HDFC Bank Limited $HDB Stock Position Lessened by Ashoka WhiteOak Capital Pte Ltd

Ashoka WhiteOak Capital Pte Ltd reduced its stake in HDFC Bank Limited (NYSE:HDB) by 17.0% in the first quarter, Holdings Channel.com reports. The fund owned 622,880 shares of the bank’s stock after selling 128,000 shares during the period. HDFC Bank makes up approximately 5.8% of Ashoka WhiteOak Capital Pte Ltd’s portfolio, making the stock its 3rd biggest position. Ashoka WhiteOak Capital Pte Ltd’s holdings in HDFC Bank were worth $15,191,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HDB. Snowden Capital Advisors LLC lifted its holdings in HDFC Bank by 5.8% during the 2nd quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock worth $438,000 after purchasing an additional 311 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in HDFC Bank by 0.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock valued at $2,711,000 after acquiring an additional 345 shares in the last quarter. Flputnam Investment Management Co. increased its holdings in HDFC Bank by 2.6% during the 4th quarter. Flputnam Investment Management Co. now owns 14,363 shares of the bank’s stock worth $525,000 after acquiring an additional 361 shares during the period. Cullen Frost Bankers Inc. increased its holdings in HDFC Bank by 19.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock worth $85,000 after acquiring an additional 384 shares during the period. Finally, Sivia Capital Partners LLC lifted its stake in HDFC Bank by 3.0% in the 4th quarter. Sivia Capital Partners LLC now owns 13,492 shares of the bank’s stock worth $493,000 after purchasing an additional 397 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ashish Parthasarthy sold 6,000 shares of HDFC Bank stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the sale, the insider directly owned 848,558 shares of the company’s stock, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction on 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 $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,600 shares of company stock worth $189,560 in the last three months. Insiders own 1.00% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB opened at $25.59 on Thursday. The firm’s 50 day simple moving average is $24.84 and its 200 day simple moving average is $29.26. The company has a market capitalization of $130.57 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.16 and a beta of 0.65. HDFC Bank Limited has a 1-year low of $22.91 and a 1-year high of $39.81.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HDB. Zacks Research downgraded HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, HDFC Bank has an average rating of “Sell”.

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).