Canoe Financial LP Has $8.54 Million Stock Position in HDFC Bank Limited $HDB

Canoe Financial LP lowered its position in HDFC Bank Limited (NYSE:HDB) by 41.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 343,080 shares of the bank’s stock after selling 243,400 shares during the period. Canoe Financial LP’s holdings in HDFC Bank were worth $8,536,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Snowden Capital Advisors LLC grew its position in HDFC Bank by 5.8% in the 2nd quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock valued at $438,000 after purchasing an additional 311 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of HDFC Bank by 0.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock worth $2,711,000 after acquiring an additional 345 shares in the last quarter. Flputnam Investment Management Co. raised its holdings in shares of HDFC Bank by 2.6% in 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 last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of HDFC Bank by 19.7% in 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 last quarter. Finally, Sivia Capital Partners LLC boosted its stake in HDFC Bank by 3.0% during the 4th quarter. Sivia Capital Partners LLC now owns 13,492 shares of the bank’s stock valued at $493,000 after purchasing an additional 397 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Down 0.1%

HDFC Bank stock opened at $25.72 on Monday. HDFC Bank Limited has a 52 week low of $22.91 and a 52 week high of $39.81. The company’s 50 day moving average price is $24.79 and its two-hundred day moving average price is $29.12. The stock has a market cap of $131.19 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.19 and a beta of 0.65.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HDB shares. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Zacks Research downgraded 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 MarketBeat, HDFC Bank has a consensus rating of “Sell”.

Insider Buying and Selling

In related news, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total transaction of $48,720.00. Following the sale, the insider directly owned 842,958 shares in the company, valued at approximately $7,333,734.60. This trade represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,600 shares of company stock valued at $189,560 over 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).