Key Points
- Ashish Parthasarthy, an HDFC Bank insider, sold 6,000 shares on April 21 at an average price of $8.94 for about $53,640, reducing his stake by 0.70% to 848,558 shares (SEC filing).
- HDFC Bank ADR (NYSE:HDB) was reported down 1.3% and trading around $26.12 with a 12‑month range of $23.91–$39.81 and a market cap near $133.2 billion, while analysts' consensus rating is "Reduce" (one Hold, one Sell).
- Institutional activity is notable: Janney Montgomery Scott massively increased its stake (up 1,473.4%, adding 249,854 shares), and institutional/hedge fund ownership is about 17.61%.
HDFC Bank Limited (NYSE:HDB - Get Free Report) insider Ashish Parthasarthy sold 6,000 shares of the firm's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total transaction of $53,640.00. Following the sale, the insider owned 848,558 shares in the company, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
HDFC Bank Stock Down 1.3%
Shares of NYSE:HDB opened at $26.12 on Thursday. The firm has a market cap of $133.23 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.23 and a beta of 0.67. The company's fifty day simple moving average is $28.37 and its 200 day simple moving average is $32.80. HDFC Bank Limited has a 12 month low of $23.91 and a 12 month high of $39.81.
Hedge Funds Weigh In On HDFC Bank
A number of large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its stake in shares of HDFC Bank by 1,473.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 266,812 shares of the bank's stock worth $6,638,000 after buying an additional 249,854 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of HDFC Bank by 23.6% during the 1st quarter. Aaron Wealth Advisors LLC now owns 37,132 shares of the bank's stock worth $924,000 after buying an additional 7,102 shares during the last quarter. Arta Finance Wealth Management LLC boosted its stake in shares of HDFC Bank by 16.5% during the 1st quarter. Arta Finance Wealth Management LLC now owns 20,069 shares of the bank's stock worth $499,000 after buying an additional 2,842 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of HDFC Bank during the 1st quarter worth about $11,755,000. Finally, Bell Investment Advisors Inc boosted its stake in shares of 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 buying an additional 1,002 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have commented on HDB. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".
Check Out Our Latest Analysis on HDB
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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