HDFC Bank Limited (NYSE:HDB - Get Free Report) insider Ashish Parthasarthy sold 5,600 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the sale, the insider directly owned 842,958 shares in the company, valued at $7,333,734.60. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Ashish Parthasarthy also recently made the following trade(s):
- On Tuesday, April 21st, Ashish Parthasarthy sold 6,000 shares of HDFC Bank stock. The stock was sold at an average price of $8.94, for a total transaction of $53,640.00.
HDFC Bank Stock Performance
Shares of NYSE:HDB opened at $25.43 on Friday. The firm has a market cap of $129.71 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.17 and a beta of 0.67. The firm's 50 day simple moving average is $27.50 and its 200-day simple moving average is $32.43. HDFC Bank Limited has a one year low of $23.91 and a one year high of $39.81.
Wall Street Analysts Forecast Growth
HDB has been the topic of several analyst reports. Weiss Ratings lowered shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, March 6th. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce".
Get Our Latest Report on HDFC Bank
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARGA Investment Management LP increased its holdings in HDFC Bank by 29.1% in the first quarter. ARGA Investment Management LP now owns 1,359,856 shares of the bank's stock valued at $33,833,000 after buying an additional 306,148 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of HDFC Bank by 55.9% during the first quarter. Hsbc Holdings PLC now owns 3,361,513 shares of the bank's stock worth $83,080,000 after purchasing an additional 1,205,192 shares in the last quarter. R Squared Ltd purchased a new stake in shares of HDFC Bank during the first quarter worth about $273,000. Collaborative Fund Advisors LLC purchased a new stake in shares of HDFC Bank during the first quarter worth about $1,080,000. Finally, Hudson Edge Investment Partners Inc. increased its stake in shares of HDFC Bank by 36.0% during the first quarter. Hudson Edge Investment Partners Inc. now owns 2,033,200 shares of the bank's stock worth $50,586,000 after purchasing an additional 538,200 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.
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).
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
