Burkett Asset Management Ltd Takes $1.03 Million Position in HDFC Bank Limited $HDB

Burkett Asset Management Ltd purchased a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 28,080 shares of the bank’s stock, valued at approximately $1,026,000. HDFC Bank accounts for about 1.0% of Burkett Asset Management Ltd’s holdings, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. PineStone Asset Management Inc. raised its holdings in HDFC Bank by 1.9% in the 4th quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock worth $303,857,000 after purchasing an additional 151,992 shares during the period. Jacobson & Schmitt Advisors LLC raised its holdings in HDFC Bank by 97.7% in the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 383,137 shares of the bank’s stock worth $13,088,000 after purchasing an additional 189,303 shares during the period. M&T Bank Corp raised its holdings in HDFC Bank by 788.3% in the 4th quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock worth $4,206,000 after purchasing an additional 102,166 shares during the period. ABN Amro Investment Solutions raised its holdings in HDFC Bank by 100.0% in the 3rd quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock worth $7,141,000 after purchasing an additional 104,525 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in HDFC Bank by 102.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock worth $80,936,000 after purchasing an additional 1,199,084 shares during the period. 17.61% of the stock is owned by institutional investors.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $23.81 on Friday. HDFC Bank Limited has a one year low of $22.91 and a one year high of $39.81. The stock’s fifty day moving average is $25.01 and its 200 day moving average is $29.97. The stock has a market cap of $121.48 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.07 and a beta of 0.65.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the sale, the insider directly owned 638,422 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ashish Parthasarthy sold 5,600 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the sale, the insider directly owned 842,958 shares in the company, valued at approximately $7,333,734.60. This represents a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 31,600 shares of company stock worth $271,660. Insiders own 1.00% of the company’s stock.

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).