L1 Capital Pty Ltd Makes New Investment in HDFC Bank Limited $HDB

L1 Capital Pty Ltd purchased a new position in shares of HDFC Bank Limited (NYSE:HDB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 503,481 shares of the bank’s stock, valued at approximately $18,397,000. HDFC Bank comprises 1.0% of L1 Capital Pty Ltd’s investment portfolio, making the stock its 17th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in HDFC Bank by 90.4% during the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after purchasing an additional 403 shares during the last quarter. Accent Capital Management LLC raised its holdings in HDFC Bank by 100.0% during the 3rd 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. Clearstead Advisors LLC raised its holdings in HDFC Bank by 476.8% during the 3rd 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. Pin Oak Investment Advisors Inc. boosted its holdings in shares of HDFC Bank by 100.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after buying an additional 498 shares in the last quarter. Finally, Graney & King LLC boosted its holdings in shares of HDFC Bank by 100.0% during the 3rd quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock worth $41,000 after buying an additional 600 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

Insider Buying and Selling at HDFC Bank

In other news, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the completion of the sale, the insider owned 842,958 shares in the company, valued at $7,333,734.60. The trade was a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the sale, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,600 shares of company stock valued at $271,660 in the last quarter. 1.00% of the stock is currently owned by company insiders.

HDFC Bank Stock Up 1.4%

NYSE:HDB opened at $24.15 on Friday. The company has a fifty day moving average of $25.00 and a 200-day moving average of $29.93. The firm has a market capitalization of $123.21 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.10 and a beta of 0.65. HDFC Bank Limited has a twelve month low of $22.91 and a twelve month high of $39.81.

Analyst Upgrades and Downgrades

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

HDFC Bank 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).