Hudson Edge Investment Partners Inc. Grows Stock Position in HDFC Bank Limited $HDB

Hudson Edge Investment Partners Inc. grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 36.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,033,200 shares of the bank’s stock after acquiring an additional 538,200 shares during the quarter. HDFC Bank accounts for approximately 7.4% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 4th largest position. Hudson Edge Investment Partners Inc.’s holdings in HDFC Bank were worth $50,586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Larson Financial Group LLC grew its holdings in shares of HDFC Bank by 90.4% during the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock valued at $29,000 after purchasing an additional 403 shares during the last quarter. Bell Investment Advisors Inc increased its position in HDFC Bank by 260.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock worth $34,000 after purchasing an additional 1,002 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in HDFC Bank by 100.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after purchasing an additional 498 shares during the last quarter. Graney & King LLC lifted its stake in HDFC Bank by 100.0% in the 3rd quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock valued at $41,000 after purchasing an additional 600 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in HDFC Bank in the third quarter valued at approximately $43,000. Institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HDB shares. Zacks Research cut shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

HDFC Bank Price Performance

HDFC Bank stock opened at $25.75 on Friday. The business has a 50 day moving average of $24.70 and a 200-day moving average of $28.82. HDFC Bank Limited has a 1 year low of $22.91 and a 1 year high of $39.81. The company has a market capitalization of $131.39 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.19 and a beta of 0.64.

Insider Buying and Selling

In other news, insider Ashish Parthasarthy sold 5,600 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the transaction, the insider owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,600 shares of company stock worth $189,560 over the last three months. Insiders own 1.00% of the company’s stock.

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).