Matthews International Capital Management LLC Sells 57,265 Shares of HDFC Bank Limited $HDB

Matthews International Capital Management LLC reduced its holdings in HDFC Bank Limited (NYSE:HDB) by 16.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 286,651 shares of the bank’s stock after selling 57,265 shares during the period. HDFC Bank comprises approximately 2.9% of Matthews International Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Matthews International Capital Management LLC’s holdings in HDFC Bank were worth $7,132,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Snowden Capital Advisors LLC lifted its holdings in shares of HDFC Bank by 5.8% in the 2nd quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock valued at $438,000 after acquiring an additional 311 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in HDFC Bank by 0.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock worth $2,711,000 after acquiring an additional 345 shares during the last quarter. Flputnam Investment Management Co. increased its stake in HDFC Bank by 2.6% during the fourth quarter. Flputnam Investment Management Co. now owns 14,363 shares of the bank’s stock worth $525,000 after acquiring an additional 361 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in HDFC Bank by 19.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock valued at $85,000 after purchasing an additional 384 shares during the period. Finally, Sivia Capital Partners LLC raised its position in HDFC Bank by 3.0% during the fourth quarter. Sivia Capital Partners LLC now owns 13,492 shares of the bank’s stock valued at $493,000 after purchasing an additional 397 shares during the period. 17.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider N Srinivasan sold 10,000 shares of the business’s 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 directly owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ashish Parthasarthy sold 5,600 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the sale, the insider directly owned 842,958 shares of the company’s stock, valued at $7,333,734.60. This represents a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 21,600 shares of company stock worth $189,560. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HDB shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Zacks Research lowered HDFC Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, HDFC Bank presently has an average rating of “Sell”.

HDFC Bank Stock Performance

Shares of HDB stock opened at $26.52 on Monday. HDFC Bank Limited has a 52-week low of $22.91 and a 52-week high of $39.81. The firm has a market capitalization of $135.31 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.23 and a beta of 0.64. The stock has a 50 day moving average price of $24.83 and a 200 day moving average price of $28.46.

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).