ARGA Investment Management LP Increases Position in HDFC Bank Limited $HDB

ARGA Investment Management LP grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 29.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,359,856 shares of the bank’s stock after buying an additional 306,148 shares during the period. HDFC Bank accounts for 1.1% of ARGA Investment Management LP’s portfolio, making the stock its 23rd largest position. ARGA Investment Management LP’s holdings in HDFC Bank were worth $33,833,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HDB. NewEdge Advisors LLC boosted its holdings in HDFC Bank by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after acquiring an additional 922 shares during the period. Goldman Sachs Group Inc. increased its stake in HDFC Bank by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after purchasing an additional 13,435 shares during the period. Sivia Capital Partners LLC lifted its position in shares of HDFC Bank by 24.5% during the second quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after purchasing an additional 1,541 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of HDFC Bank by 464.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after purchasing an additional 1,221 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of HDFC Bank by 29.3% during the second quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock worth $3,952,000 after purchasing an additional 11,689 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

HDFC Bank Trading Up 0.0%

Shares of HDB stock opened at $26.52 on Friday. HDFC Bank Limited has a twelve month low of $22.91 and a twelve month high of $39.81. The stock has a fifty day simple moving average of $24.83 and a two-hundred day simple moving average of $28.51. The stock has a market capitalization of $135.31 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.23 and a beta of 0.64.

Insider Activity

In related news, 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 value of $48,720.00. Following the completion of the sale, the insider directly owned 842,958 shares of the company’s stock, valued at $7,333,734.60. This 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 available through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the transaction, 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 disclosure for this sale is available in the SEC filing. Insiders sold 21,600 shares of company stock valued at $189,560 over the last 90 days. 1.00% of the stock is currently owned by corporate 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).