Bank of New York Mellon Corp Has $173.08 Million Stake in HDFC Bank Limited $HDB

Bank of New York Mellon Corp lifted its position in shares of HDFC Bank Limited (NYSE:HDB) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,736,584 shares of the bank’s stock after acquiring an additional 281,435 shares during the quarter. Bank of New York Mellon Corp’s holdings in HDFC Bank were worth $173,075,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Schroder Investment Management Group raised its holdings in HDFC Bank by 137.6% during the 3rd quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock worth $861,554,000 after purchasing an additional 14,606,422 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in HDFC Bank by 104.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after purchasing an additional 9,808,890 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in HDFC Bank by 9,866.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock worth $271,381,000 after purchasing an additional 7,864,692 shares during the last quarter. Franklin Resources Inc. raised its holdings in HDFC Bank by 106.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after purchasing an additional 7,147,440 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in HDFC Bank by 94.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after purchasing an additional 6,386,002 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Insider Activity at HDFC Bank

In other news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the transaction, the insider directly owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ashish Parthasarthy sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total value of $53,640.00. Following the completion of the transaction, the insider directly owned 848,558 shares of the company’s stock, valued at approximately $7,586,108.52. This represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 31,600 shares of company stock valued at $271,660. 1.00% of the stock is currently owned by corporate insiders.

HDFC Bank Stock Down 2.7%

HDB stock opened at $23.39 on Friday. The firm has a market cap of $119.33 billion, a PE ratio of 14.01, a P/E/G ratio of 1.11 and a beta of 0.65. The business has a 50 day moving average of $25.11 and a 200-day moving average of $30.39. HDFC Bank Limited has a 12-month low of $23.31 and a 12-month high of $39.81.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, HDFC Bank has an average rating of “Reduce”.

About HDFC Bank

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).