HDFC Bank Limited $HDB Stock Position Increased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its stake in shares of HDFC Bank Limited (NYSE:HDB) by 1,694.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 49,645 shares of the bank’s stock after acquiring an additional 46,879 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in HDFC Bank were worth $1,814,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC raised its position 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 worth $29,000 after buying an additional 403 shares in the last quarter. Accent Capital Management LLC increased its position in shares of HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after acquiring an additional 459 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of HDFC Bank by 476.8% in the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after acquiring an additional 739 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its position in HDFC Bank by 100.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after purchasing an additional 498 shares in the last quarter. Finally, Graney & King LLC grew its position in HDFC Bank by 100.0% during the third quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock valued at $41,000 after purchasing an additional 600 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

NYSE:HDB opened at $23.76 on Thursday. The stock has a market cap of $121.20 billion, a P/E ratio of 14.23, a PEG ratio of 1.15 and a beta of 0.68. HDFC Bank Limited has a one year low of $23.66 and a one year high of $39.81. The company has a fifty day moving average price of $25.46 and a 200 day moving average price of $30.97.

Insiders Place Their Bets

In other news, insider Ashish Parthasarthy sold 6,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $87,200.00. Following the completion of the transaction, the insider owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 31,600 shares of company stock valued at $271,660. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average 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).