HDFC Bank Limited $HDB is Ashoka WhiteOak Capital Pte Ltd’s 2nd Largest Position

Ashoka WhiteOak Capital Pte Ltd increased its stake in HDFC Bank Limited (NYSE:HDB) by 44.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 750,880 shares of the bank’s stock after purchasing an additional 229,880 shares during the quarter. HDFC Bank comprises about 10.4% of Ashoka WhiteOak Capital Pte Ltd’s holdings, making the stock its 2nd largest position. Ashoka WhiteOak Capital Pte Ltd’s holdings in HDFC Bank were worth $27,385,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HDB. NewEdge Advisors LLC increased its stake in HDFC Bank by 8.6% in the 1st quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after acquiring an additional 922 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in HDFC Bank by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after acquiring an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC increased its stake in HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after acquiring an additional 1,541 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in HDFC Bank by 464.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after acquiring an additional 1,221 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in HDFC Bank by 29.3% in the 2nd quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock worth $3,952,000 after acquiring an additional 11,689 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HDFC Bank

In other news, 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 in the company, valued at approximately $7,586,108.52. This represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider N Srinivasan sold 10,000 shares of the company’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 completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders sold a total of 31,600 shares of company stock valued at $271,660 over the last quarter. Company insiders own 1.00% of the company’s stock.

HDFC Bank Trading Down 3.3%

HDB opened at $24.21 on Tuesday. The stock has a 50-day moving average price of $26.76 and a 200-day moving average price of $32.00. HDFC Bank Limited has a 12-month low of $23.91 and a 12-month high of $39.81. The stock has a market capitalization of $123.48 billion, a P/E ratio of 14.49, a PEG ratio of 1.16 and a beta of 0.68.

Wall Street Analysts Forecast Growth

HDB has been the topic of a number of research analyst reports. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, HDFC Bank has a consensus rating of “Reduce”.

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).