HDFC Bank Limited $HDB Stake Cut by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in HDFC Bank Limited (NYSE:HDB) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 552,724 shares of the bank’s stock after selling 23,911 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in HDFC Bank were worth $13,752,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HDB. Snowden Capital Advisors LLC raised its holdings in shares of HDFC Bank by 5.8% during the second quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock worth $438,000 after purchasing an additional 311 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of HDFC Bank by 0.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock valued at $2,711,000 after buying an additional 345 shares during the period. Flputnam Investment Management Co. boosted its holdings in shares of HDFC Bank by 2.6% in the 4th quarter. Flputnam Investment Management Co. now owns 14,363 shares of the bank’s stock valued at $525,000 after buying an additional 361 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of HDFC Bank by 19.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock valued at $85,000 after buying an additional 384 shares during the period. Finally, Sivia Capital Partners LLC grew its position in shares of HDFC Bank by 3.0% during the 4th quarter. Sivia Capital Partners LLC now owns 13,492 shares of the bank’s stock valued at $493,000 after buying an additional 397 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HDB. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Zacks Research downgraded HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, HDFC Bank presently has an average rating of “Sell”.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $26.39 on Tuesday. The firm has a market capitalization of $134.64 billion, a PE ratio of 15.80, a P/E/G ratio of 1.23 and a beta of 0.64. HDFC Bank Limited has a 1-year low of $22.91 and a 1-year high of $39.81. The business’s fifty day moving average price is $24.85 and its two-hundred day moving average price is $28.39.

Insider Activity

In other news, insider Ashish Parthasarthy sold 6,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the transaction, the insider owned 848,558 shares in the company, valued at approximately $7,586,108.52. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction dated 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 directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,600 shares of company stock valued at $189,560 in the last 90 days. Insiders own 1.00% of the company’s stock.

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).