Franklin Resources Inc. Has $485.80 Million Holdings in HDFC Bank Limited $HDB

Franklin Resources Inc. decreased its holdings in HDFC Bank Limited (NYSE:HDB) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,295,052 shares of the bank’s stock after selling 589,891 shares during the period. Franklin Resources Inc. owned about 0.26% of HDFC Bank worth $485,801,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in HDB. Larson Financial Group LLC increased its stake in 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 buying an additional 403 shares during the period. Accent Capital Management LLC boosted 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 buying an additional 459 shares during the period. Clearstead Advisors LLC grew its holdings 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 acquiring an additional 739 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its stake in shares of HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after acquiring an additional 498 shares during the last quarter. Finally, Graney & King LLC raised its holdings in shares of HDFC Bank by 100.0% during the third quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock worth $41,000 after acquiring an additional 600 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Ashish Parthasarthy sold 5,600 shares of the company’s 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 owned 842,958 shares in the company, valued at approximately $7,333,734.60. This represents a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the transaction, the insider directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,600 shares of company stock valued at $271,660 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

HDFC Bank Stock Down 1.6%

HDB stock opened at $23.04 on Tuesday. The company has a market capitalization of $117.51 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 1.08 and a beta of 0.65. HDFC Bank Limited has a 12 month low of $22.91 and a 12 month high of $39.81. The firm has a 50 day moving average of $25.07 and a two-hundred day moving average of $30.25.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

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).