HDFC Bank Limited $HDB Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its holdings in HDFC Bank Limited (NYSE:HDB) by 30.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,156,321 shares of the bank’s stock after selling 950,526 shares during the quarter. Hsbc Holdings PLC’s holdings in HDFC Bank were worth $77,940,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of HDB. ARP Global Capital Ltd purchased a new stake in HDFC Bank in the 4th quarter valued at about $9,364,000. Corient Private Wealth LLC boosted its stake in HDFC Bank by 3.4% during the fourth quarter. Corient Private Wealth LLC now owns 64,129 shares of the bank’s stock worth $2,343,000 after buying an additional 2,089 shares during the period. BSN CAPITAL PARTNERS Ltd purchased a new position in HDFC Bank during the fourth quarter worth about $19,364,000. Ovata Capital Management Ltd acquired a new stake in shares of HDFC Bank during the fourth quarter valued at about $10,022,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of HDFC Bank by 736.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 10,415 shares of the bank’s stock valued at $381,000 after acquiring an additional 9,170 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Insider Transactions at HDFC Bank

In related news, insider Ashish Parthasarthy sold 5,600 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 842,958 shares in the company, valued at $7,333,734.60. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 638,422 shares of the company’s stock, valued at $5,567,039.84. The trade was a 1.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 21,600 shares of company stock valued at $189,560. Insiders own 1.00% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB opened at $25.75 on Friday. HDFC Bank Limited has a 1-year low of $22.91 and a 1-year high of $39.81. The stock has a market cap of $131.39 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.19 and a beta of 0.64. The firm has a fifty day moving average price of $24.70 and a 200 day moving average price of $28.82.

Analyst Ratings Changes

Several research firms have recently commented on HDB. Zacks Research lowered HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, HDFC Bank has an average rating of “Sell”.

HDFC Bank Company 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).