Prudential PLC Purchases 42,500 Shares of HDFC Bank Limited $HDB

Prudential PLC raised its stake in shares of HDFC Bank Limited (NYSE:HDB) by 13.4% in the 4th quarter, Holdings Channel reports. The firm owned 358,632 shares of the bank’s stock after acquiring an additional 42,500 shares during the period. Prudential PLC’s holdings in HDFC Bank were worth $13,069,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HDB. Larson Financial Group LLC boosted its holdings 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 valued at $29,000 after purchasing an additional 403 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in shares of HDFC Bank by 476.8% during the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after purchasing an additional 739 shares during the last quarter. Accent Capital Management LLC boosted its holdings in shares of HDFC Bank by 100.0% during the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after purchasing an additional 459 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its holdings in shares of HDFC Bank by 100.0% during the 3rd 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 during the last quarter. Finally, Graney & King LLC boosted its holdings in shares of HDFC Bank by 100.0% during the 3rd quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock valued at $41,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 2.7%

Shares of NYSE HDB opened at $23.39 on Friday. The firm’s 50-day moving average price is $25.11 and its 200-day moving average price is $30.39. The stock has a market capitalization of $119.33 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.11 and a beta of 0.65. HDFC Bank Limited has a 12-month low of $23.31 and a 12-month high of $39.81.

Analysts Set New Price Targets

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

Insider Activity

In other news, insider N Srinivasan sold 10,000 shares of the company’s 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 sale, the insider directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashish Parthasarthy sold 5,600 shares of the company’s stock in a transaction dated 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 owned 842,958 shares in the company, valued at $7,333,734.60. This represents a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,600 shares of company stock worth $271,660 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

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).