Sei Investments Co. Cuts Holdings in HDFC Bank Limited $HDB

by · The Markets Daily

Sei Investments Co. reduced its holdings in HDFC Bank Limited (NYSE:HDB – Free Report) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,078,639 shares of the bank’s stock after selling 393,515 shares during the quarter. Sei Investments Co. owned about 0.12% of HDFC Bank worth $151,236,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HDB. Larson Financial Group LLC boosted its position 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 purchasing an additional 403 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its stake 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 worth $34,000 after purchasing an additional 498 shares during the period. Bell Investment Advisors Inc increased its holdings in shares of HDFC Bank by 260.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,002 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of HDFC Bank in the 3rd quarter valued at about $43,000. Finally, BOCHK Asset Management Ltd lifted its stake in shares of HDFC Bank by 125.0% in the fourth quarter. BOCHK Asset Management Ltd now owns 1,800 shares of the bank’s stock valued at $66,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HDB shares. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Finally, Weiss Ratings upgraded shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Get Our Latest Stock Analysis on HDB

HDFC Bank Stock Down 0.1%

Shares of HDB stock opened at $23.17 on Friday. The stock has a market cap of $118.19 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.09 and a beta of 0.64. HDFC Bank Limited has a fifty-two week low of $22.66 and a fifty-two week high of $39.47. The business has a fifty day simple moving average of $24.86 and a 200-day simple moving average of $27.73.

HDFC Bank (NYSE:HDB – Get Free Report) last released its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $9.01 billion for the quarter, compared to analyst estimates of $5 billion. HDFC Bank had a net margin of 15.96% and a return on equity of 13.14%. On average, sell-side analysts anticipate that HDFC Bank Limited will post 1.67 earnings per share for the current year.

Insider Activity

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank 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 completion of the transaction, the insider owned 842,958 shares in the company, valued at approximately $7,333,734.60. The trade was a 0.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of 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 position. The SEC filing for this sale provides additional information. Company insiders own 1.00% of the company’s stock.

HDFC Bank Profile

(Free Report)

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).

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