Strs Ohio Makes New $12.44 Million Investment in HDFC Bank Limited $HDB

Strs Ohio purchased a new stake in HDFC Bank Limited (NYSE:HDB) in the first quarter, HoldingsChannel reports. The institutional investor purchased 500,000 shares of the bank’s stock, valued at approximately $12,440,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC lifted 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 purchasing an additional 403 shares during the last quarter. Bell Investment Advisors Inc increased its position in HDFC Bank by 260.9% during the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock worth $34,000 after buying an additional 1,002 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its stake in HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after buying an additional 498 shares during the period. Graney & King LLC raised its stake in HDFC Bank by 100.0% in the third quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock valued at $41,000 after buying an additional 600 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of HDFC Bank in the third quarter valued at approximately $43,000. Institutional investors own 17.61% of the company’s stock.

Insider Buying and Selling

In other news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was 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 in the company, valued at $5,567,039.84. The trade was 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. Also, insider Ashish Parthasarthy sold 5,600 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 842,958 shares in the company, valued at $7,333,734.60. The trade was a 0.66% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 21,600 shares of company stock valued at $189,560. Corporate insiders own 1.00% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB opened at $25.75 on Friday. HDFC Bank Limited has a 52 week low of $22.91 and a 52 week high of $39.81. The firm has a market cap of $131.39 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.19 and a beta of 0.64. The firm’s 50-day simple moving average is $24.70 and its 200 day simple moving average is $28.82.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HDB. Zacks Research downgraded HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

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).