HDFC Bank Sees Unusually High Options Volume (NYSE:HDB)

HDFC Bank Limited (NYSE:HDB) was the target of unusually large options trading on Wednesday. Stock investors purchased 8,986 call options on the company. This represents an increase of approximately 1,879% compared to the typical volume of 454 call options.

Insider Transactions at HDFC Bank

In related news, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $8.21, for a total value of $82,100.00. Following the transaction, the insider owned 648,422 shares in the company, valued at approximately $5,323,544.62. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On HDFC Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division increased its stake in shares of HDFC Bank by 100.0% in the third quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after buying an additional 379 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of HDFC Bank by 90.4% in the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock valued at $29,000 after purchasing an additional 403 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after purchasing an additional 322 shares in the last quarter. Accent Capital Management LLC lifted its position in shares of HDFC Bank by 100.0% during the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after purchasing an additional 459 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its position in shares of HDFC Bank by 476.8% during the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after purchasing an additional 739 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. 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 raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

HDFC Bank Price Performance

HDB traded up $0.77 during trading hours on Wednesday, reaching $25.89. 13,074,611 shares of the stock traded hands, compared to its average volume of 8,371,499. HDFC Bank has a fifty-two week low of $24.74 and a fifty-two week high of $39.81. The company has a market cap of $132.05 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.06 and a beta of 0.56. The firm’s fifty day simple moving average is $31.32 and its two-hundred day simple moving average is $34.10.

HDFC Bank Company 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).