Assenagon Asset Management S.A. Buys New Holdings in HDFC Bank Limited $HDB

Assenagon Asset Management S.A. acquired a new stake in shares of HDFC Bank Limited (NYSE:HDB) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 472,457 shares of the bank’s stock, valued at approximately $11,755,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC grew its position in shares of HDFC Bank by 90.4% in the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after buying an additional 403 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of HDFC Bank by 476.8% during the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after acquiring an additional 739 shares in the last quarter. Accent Capital Management LLC raised its holdings in shares of HDFC Bank by 100.0% during the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after acquiring an additional 459 shares in the last quarter. Bell Investment Advisors Inc lifted its stake in HDFC Bank by 260.9% in the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock worth $34,000 after acquiring an additional 1,002 shares during the period. Finally, Pin Oak Investment Advisors Inc. lifted its stake in HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after acquiring an additional 498 shares during the period. Institutional investors own 17.61% of the company’s stock.

Insider Activity

In related news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the sale, the insider owned 638,422 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Ashish Parthasarthy sold 5,600 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the sale, the insider owned 842,958 shares in the company, valued at $7,333,734.60. This represents a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,600 shares of company stock worth $189,560 over the last ninety days. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HDB. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Zacks Research lowered shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, June 18th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $25.72 on Friday. HDFC Bank Limited has a fifty-two week low of $22.91 and a fifty-two week high of $39.81. The business has a 50-day simple moving average of $24.79 and a two-hundred day simple moving average of $29.16. The firm has a market cap of $131.19 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.19 and a beta of 0.65.

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).