Key Points
- Insider sale: N Srinivasan sold 10,000 HDFC Bank shares on March 23 at an average of $8.21 for $82,100, reducing his direct stake by 1.52% to 648,422 shares valued at about $5.32 million, per an SEC filing.
- Market and sentiment: HDFC Bank (HDB) opened at $25.10 and is trading below its 50‑day ($31.32) and 200‑day ($34.10) moving averages near its 52‑week low of $24.74, while analyst coverage is limited and currently averages a "Reduce" rating (one Hold, one Sell).
HDFC Bank Limited (NYSE:HDB - Get Free Report) insider N Srinivasan sold 10,000 shares of the firm's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $8.21, for a total transaction of $82,100.00. Following the completion of the transaction, the insider directly owned 648,422 shares in the company, valued at $5,323,544.62. This represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
HDFC Bank Stock Down 1.2%
Shares of HDB opened at $25.10 on Wednesday. The firm's fifty day moving average is $31.32 and its two-hundred day moving average is $34.10. The stock has a market cap of $128.02 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.06 and a beta of 0.56. HDFC Bank Limited has a 52-week low of $24.74 and a 52-week high of $39.81.
Hedge Funds Weigh In On HDFC Bank
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Insigneo Advisory Services LLC increased its holdings in HDFC Bank by 4.9% during the 2nd quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank's stock worth $249,000 after purchasing an additional 152 shares during the period. Level Four Advisory Services LLC raised its holdings in HDFC Bank by 3.0% in the second quarter. Level Four Advisory Services LLC now owns 7,681 shares of the bank's stock valued at $589,000 after acquiring an additional 223 shares in the last quarter. Snowden Capital Advisors LLC grew its holdings in HDFC Bank by 5.8% during the 2nd quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank's stock worth $438,000 after acquiring an additional 311 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of HDFC Bank by 54.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank's stock worth $31,000 after purchasing an additional 322 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake 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 purchasing an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on HDB shares. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday, January 23rd. Weiss Ratings cut HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce".
View Our Latest Stock Analysis on HDFC Bank
HDFC Bank Company Profile
(
Get Free Report)
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).
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