Ashish Parthasarthy Sells 6,000 Shares of HDFC Bank (NYSE:HDB) Stock

HDFC Bank Limited (NYSE:HDB) insider Ashish Parthasarthy sold 6,000 shares of the business’s stock in a transaction dated 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 directly owned 848,558 shares of the company’s stock, valued at approximately $7,586,108.52. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

HDFC Bank Stock Down 2.3%

Shares of HDB stock opened at $25.50 on Friday. The business has a 50-day simple moving average of $28.23 and a 200-day simple moving average of $32.75. The stock has a market cap of $130.07 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.21 and a beta of 0.67. HDFC Bank Limited has a 52-week low of $23.91 and a 52-week high of $39.81.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HDB shares. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings cut 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Hedge Funds Weigh In On HDFC Bank

Large investors have recently bought and sold shares of the business. Snowden Capital Advisors LLC boosted its position in 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 in the last quarter. Parkside Financial Bank & Trust boosted its position in HDFC Bank by 54.5% during the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after purchasing an additional 322 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position 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 purchasing an additional 345 shares in the last quarter. Flputnam Investment Management Co. boosted its position 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 purchasing an additional 361 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted 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 worth $85,000 after purchasing an additional 384 shares in the last quarter. Institutional investors and hedge funds own 17.61% 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).