Janney Montgomery Scott LLC Raises Holdings in HDFC Bank Limited $HDB

Janney Montgomery Scott LLC increased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 1,473.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,812 shares of the bank’s stock after acquiring an additional 249,854 shares during the quarter. Janney Montgomery Scott LLC’s holdings in HDFC Bank were worth $6,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Aaron Wealth Advisors LLC lifted its position in HDFC Bank by 23.6% in the first quarter. Aaron Wealth Advisors LLC now owns 37,132 shares of the bank’s stock valued at $924,000 after purchasing an additional 7,102 shares during the last quarter. Arta Finance Wealth Management LLC grew its holdings in shares of HDFC Bank by 16.5% in the first quarter. Arta Finance Wealth Management LLC now owns 20,069 shares of the bank’s stock worth $499,000 after purchasing an additional 2,842 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of HDFC Bank in the first quarter worth approximately $11,755,000. Bell Investment Advisors Inc increased its stake in shares of 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 buying an additional 1,002 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of HDFC Bank by 6,904.2% in the first quarter. SG Americas Securities LLC now owns 1,913,692 shares of the bank’s stock worth $47,613,000 after buying an additional 1,886,370 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Down 0.1%

Shares of 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 52 week low of $22.91 and a 52 week high of $39.81. The company has a market cap of $131.39 billion, a PE ratio of 15.42, a P/E/G ratio of 1.19 and a beta of 0.64.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

HDB has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Zacks Research cut shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus 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).