277,332 Shares in HDFC Bank Limited $HDB Purchased by Ovata Capital Management Ltd

Ovata Capital Management Ltd acquired a new position in HDFC Bank Limited (NYSE:HDB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 277,332 shares of the bank’s stock, valued at approximately $10,022,000. HDFC Bank comprises about 1.9% of Ovata Capital Management Ltd’s holdings, making the stock its 13th largest holding.

Several other institutional investors also recently bought and sold shares of the company. Schroder Investment Management Group boosted its holdings in HDFC Bank by 137.6% in the 3rd quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock worth $861,554,000 after buying an additional 14,606,422 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in HDFC Bank by 104.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after buying an additional 9,808,890 shares during the last quarter. Franklin Resources Inc. boosted its holdings in HDFC Bank by 106.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after buying an additional 7,147,440 shares during the last quarter. Wellington Management Group LLP boosted its holdings in HDFC Bank by 94.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after buying an additional 6,386,002 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in HDFC Bank by 6.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 12,392,854 shares of the bank’s stock worth $452,835,000 after buying an additional 791,226 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

HDFC Bank Stock Up 2.1%

Shares of NYSE HDB opened at $24.05 on Friday. The firm has a market cap of $122.67 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.09 and a beta of 0.65. HDFC Bank Limited has a 52-week low of $23.31 and a 52-week high of $39.81. The business’s 50 day moving average is $25.16 and its two-hundred day moving average is $30.44.

Insider Buying and Selling

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the sale, the insider owned 638,422 shares of the company’s stock, valued at $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 is available through this link. Also, insider Ashish Parthasarthy sold 5,600 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the completion of the sale, the insider directly owned 842,958 shares in the company, valued at approximately $7,333,734.60. The trade was a 0.66% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 31,600 shares of company stock worth $271,660. 1.00% of the stock is owned by corporate insiders.

HDFC Bank 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).