N Srinivasan Sells 10,000 Shares of HDFC Bank (NYSE:HDB) Stock

HDFC Bank Limited (NYSE:HDB) insider N Srinivasan sold 10,000 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the sale, the insider owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Trading Down 2.6%

Shares of HDB opened at $25.01 on Friday. The business’s fifty day simple moving average is $27.06 and its two-hundred day simple moving average is $32.17. HDFC Bank Limited has a 12 month low of $23.91 and a 12 month high of $39.81. The company has a market cap of $127.56 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.16 and a beta of 0.68.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Institutional Investors Weigh In On HDFC Bank

Hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its stake in shares of HDFC Bank by 90.4% during 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 during the period. Parkside Financial Bank & Trust grew its stake 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 valued at $31,000 after purchasing an additional 322 shares during the period. Accent Capital Management LLC grew its stake in shares of HDFC Bank by 100.0% during the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after purchasing an additional 459 shares during the period. Clearstead Advisors LLC grew its stake in shares of HDFC Bank by 476.8% during the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after purchasing an additional 739 shares during the period. Finally, Bell Investment Advisors Inc grew 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 valued at $34,000 after purchasing an additional 1,002 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

About HDFC Bank

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).