Key Points
- Insider sale: N Srinivasan sold 10,000 shares of HDFC Bank at an average price of $8.72, totaling $87,200. After the transaction, he still held 638,422 shares, a 1.54% reduction in his position.
- Recent trading history: This follows another sale by Srinivasan on March 23, when he sold 10,000 shares at an average price of $8.21 for $82,100.
- Stock and sentiment backdrop: HDFC Bank shares opened at $25.01 and have traded between $23.91 and $39.81 over the past year, while analyst sentiment remains weak with an average rating of "Reduce".
HDFC Bank Limited (NYSE:HDB - Get Free Report) insider N Srinivasan sold 10,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the transaction, the insider owned 638,422 shares of the company's stock, valued at $5,567,039.84. The trade was a 1.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
N Srinivasan also recently made the following trade(s):
- On Monday, March 23rd, N Srinivasan sold 10,000 shares of HDFC Bank stock. The shares were sold at an average price of $8.21, for a total value of $82,100.00.
HDFC Bank Stock Performance
Shares of NYSE HDB opened at $25.01 on Friday. HDFC Bank Limited has a one year low of $23.91 and a one year high of $39.81. The firm has a market capitalization of $127.56 billion, a P/E ratio of 14.97, a PEG ratio of 1.19 and a beta of 0.68. The company's fifty day moving average is $27.06 and its two-hundred day moving average is $32.17.
Analyst Ratings Changes
A number of analysts recently commented on HDB shares. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday, January 23rd. Weiss Ratings cut shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce".
Check Out Our Latest Stock Analysis on HDFC Bank
Hedge Funds Weigh In On HDFC Bank
Several hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its position in shares of HDFC Bank by 8.6% in the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank's stock valued at $776,000 after purchasing an additional 922 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of HDFC Bank by 1.5% during the 1st 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 last quarter. Sivia Capital Partners LLC raised its position in shares of HDFC Bank by 24.5% during the 2nd 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 stake in HDFC Bank by 464.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank's stock valued at $114,000 after buying an additional 1,221 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in HDFC Bank by 29.3% in the 2nd quarter. First Trust Advisors LP now owns 51,551 shares of the bank's stock valued at $3,952,000 after buying an additional 11,689 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.
About HDFC Bank
(
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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