HDFC Bank Limited $HDB Shares Sold by Channing Global Advisors LLC

Channing Global Advisors LLC lessened its position in HDFC Bank Limited (NYSE:HDB) by 24.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,432 shares of the bank’s stock after selling 44,184 shares during the quarter. HDFC Bank makes up 2.0% of Channing Global Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Channing Global Advisors LLC’s holdings in HDFC Bank were worth $3,370,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HDB. PineStone Asset Management Inc. lifted its holdings in HDFC Bank by 1.9% during the 4th quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock worth $303,857,000 after buying an additional 151,992 shares in the last quarter. M&T Bank Corp boosted its position in HDFC Bank by 788.3% in the 4th quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock valued at $4,206,000 after buying an additional 102,166 shares during the period. Matthews International Capital Management LLC grew its stake in shares of HDFC Bank by 58.3% in the fourth quarter. Matthews International Capital Management LLC now owns 343,916 shares of the bank’s stock worth $12,567,000 after acquiring an additional 126,650 shares in the last quarter. Boston Common Asset Management LLC grew its stake in shares of HDFC Bank by 80.9% in the fourth quarter. Boston Common Asset Management LLC now owns 1,537,511 shares of the bank’s stock worth $56,181,000 after acquiring an additional 687,812 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in shares of HDFC Bank by 32.7% during the fourth quarter. State of Michigan Retirement System now owns 595,200 shares of the bank’s stock worth $21,749,000 after acquiring an additional 146,600 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Trading Up 1.4%

Shares of NYSE:HDB opened at $26.52 on Friday. HDFC Bank Limited has a 52 week low of $22.91 and a 52 week high of $39.81. The company’s 50 day moving average is $24.80 and its two-hundred day moving average is $28.53. The company has a market cap of $135.28 billion, a PE ratio of 15.88, a P/E/G ratio of 1.22 and a beta of 0.64.

Insiders Place Their Bets

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction 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 directly owned 638,422 shares in the company, valued at $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ashish Parthasarthy sold 6,000 shares of HDFC Bank 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 sale, the insider directly owned 848,558 shares of the company’s stock, valued at $7,586,108.52. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 21,600 shares of company stock valued at $189,560. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

HDB has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the company has an average 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).