Explore Capital Management LLC Has $3.55 Million Position in HDFC Bank Limited $HDB

Explore Capital Management LLC lessened its holdings in HDFC Bank Limited (NYSE:HDB) by 67.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,060 shares of the bank’s stock after selling 201,800 shares during the quarter. HDFC Bank accounts for approximately 2.9% of Explore Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Explore Capital Management LLC’s holdings in HDFC Bank were worth $3,547,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. PineStone Asset Management Inc. boosted its position in shares of HDFC Bank by 1.9% in the fourth quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock valued at $303,857,000 after acquiring an additional 151,992 shares during the period. Jacobson & Schmitt Advisors LLC boosted its position in shares of HDFC Bank by 97.7% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 383,137 shares of the bank’s stock valued at $13,088,000 after acquiring an additional 189,303 shares during the period. M&T Bank Corp boosted its position in shares of HDFC Bank by 788.3% in the fourth quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock valued at $4,206,000 after acquiring an additional 102,166 shares during the period. ABN Amro Investment Solutions boosted its position in shares of HDFC Bank by 100.0% in the third quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock valued at $7,141,000 after acquiring an additional 104,525 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of HDFC Bank by 102.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock valued at $80,936,000 after acquiring an additional 1,199,084 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 2.1%

HDB opened at $24.05 on Friday. HDFC Bank Limited has a twelve month low of $23.31 and a twelve month high of $39.81. The company has a 50-day simple moving average of $25.16 and a 200 day simple moving average of $30.44. The stock has a market capitalization of $122.67 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 1.09 and a beta of 0.65.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

Insider Activity

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the transaction, the insider owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashish Parthasarthy sold 5,600 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the transaction, the insider directly owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. The trade was a 0.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 31,600 shares of company stock valued at $271,660 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

HDFC Bank Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).