HDFC Bank Limited $HDB Shares Sold by Marietta Investment Partners LLC

Marietta Investment Partners LLC decreased its position in HDFC Bank Limited (NYSE:HDB) by 30.2% in the first quarter, Holdings Channel reports. The institutional investor owned 125,742 shares of the bank’s stock after selling 54,360 shares during the period. Marietta Investment Partners LLC’s holdings in HDFC Bank were worth $3,128,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. GQG Partners LLC boosted its stake in shares of HDFC Bank by 1.5% during the 4th quarter. GQG Partners LLC now owns 52,962,709 shares of the bank’s stock worth $1,935,258,000 after acquiring an additional 777,977 shares in the last quarter. Royal Bank of Canada raised its holdings in HDFC Bank by 31.0% in the 4th quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock worth $1,457,865,000 after purchasing an additional 9,451,992 shares during the period. Schroder Investment Management Group raised its holdings in HDFC Bank by 4.1% in the 4th quarter. Schroder Investment Management Group now owns 26,264,726 shares of the bank’s stock worth $959,713,000 after purchasing an additional 1,043,596 shares during the period. JPMorgan Chase & Co. boosted its position in HDFC Bank by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 20,504,634 shares of the bank’s stock worth $749,239,000 after purchasing an additional 1,299,851 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in HDFC Bank by 106.1% during the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after purchasing an additional 7,147,440 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Ratings Changes

HDB has been the subject of a number of recent analyst reports. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Insider Activity at HDFC Bank

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 transaction of $87,200.00. Following the completion of the sale, the insider directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ashish Parthasarthy sold 5,600 shares of the 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 transaction, the insider directly owned 842,958 shares of the company’s stock, valued at $7,333,734.60. The trade was a 0.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 21,600 shares of company stock valued at $189,560. 1.00% of the stock is owned by company insiders.

HDFC Bank Stock Down 0.1%

HDB opened at $25.75 on Monday. HDFC Bank Limited has a twelve month low of $22.91 and a twelve month high of $39.81. The company has a 50-day moving average price of $24.70 and a 200 day moving average price of $28.77. The company has a market cap of $131.39 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.19 and a beta of 0.64.

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).