Investors Purchase Large Volume of Call Options on HDFC Bank (NYSE:HDB)

HDFC Bank Limited (NYSE:HDB) saw some unusual options trading activity on Monday. Stock traders acquired 2,772 call options on the company. This represents an increase of approximately 250% compared to the typical daily volume of 791 call options.

Insider Buying and Selling at HDFC Bank

In other news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the transaction, the insider directly owned 638,422 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ashish Parthasarthy sold 6,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,600 shares of company stock valued at $189,560 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Institutional Trading of HDFC Bank

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised 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 worth $29,000 after acquiring an additional 403 shares in the last quarter. Axiom Investment Management LLC purchased a new position in shares of HDFC Bank in the first quarter valued at $32,000. Bell Investment Advisors Inc increased its position in HDFC Bank by 260.9% in the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock worth $34,000 after purchasing an additional 1,002 shares during the last quarter. Pin Oak Investment Advisors Inc. increased its position in HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after purchasing an additional 498 shares during the last quarter. Finally, Graney & King LLC increased its position in HDFC Bank by 100.0% in the third quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock worth $41,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB stock traded up $1.55 during trading hours on Monday, hitting $27.32. The stock had a trading volume of 5,027,981 shares, compared to its average volume of 8,738,668. HDFC Bank has a one year low of $22.91 and a one year high of $39.81. The stock’s 50-day moving average price is $24.70 and its two-hundred day moving average price is $28.77. The stock has a market capitalization of $139.40 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.19 and a beta of 0.64.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Zacks Research downgraded HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

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).