Munich Reinsurance Co Stock Corp in Munich Sells 85,891 Shares of HDFC Bank Limited $HDB

Munich Reinsurance Co Stock Corp in Munich cut its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 38.7% in the first quarter, Holdings Channel reports. The institutional investor owned 136,327 shares of the bank’s stock after selling 85,891 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in HDFC Bank were worth $3,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC boosted its holdings 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 period. Cary Street Partners Financial LLC bought a new stake in shares of HDFC Bank in the second quarter valued at about $75,000. 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 worth $34,000 after buying an additional 498 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in HDFC Bank during the third quarter valued at about $43,000. Finally, Bell Investment Advisors Inc raised its holdings in HDFC Bank by 260.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,002 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analysts Set New Price Targets

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

HDFC Bank Trading Down 3.5%

Shares of HDB opened at $26.19 on Thursday. The stock has a market cap of $133.61 billion, a PE ratio of 15.68, a PEG ratio of 1.26 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 stock has a 50 day simple moving average of $24.78 and a 200-day simple moving average of $28.59.

Insider Buying and Selling at HDFC Bank

In related news, insider N Srinivasan sold 10,000 shares of the stock in a transaction dated 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 in the company, valued at $5,567,039.84. This trade represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ashish Parthasarthy sold 6,000 shares of HDFC Bank 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 transaction, the insider directly owned 848,558 shares of the company’s stock, valued at $7,586,108.52. This represents a 0.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,600 shares of company stock valued at $189,560 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

HDFC Bank Company 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).