HDFC Bank Limited (NYSE:HDB) Short Interest Update

HDFC Bank Limited (NYSE:HDB) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totaling 14,804,288 shares, a decline of 34.1% from the May 31st total of 22,476,417 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average trading volume of 10,962,929 shares, the days-to-cover ratio is currently 1.4 days.

Insider Activity at HDFC Bank

In related news, insider Ashish Parthasarthy sold 6,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the sale, the insider owned 848,558 shares of the company’s stock, valued at $7,586,108.52. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This trade represents a 1.54% 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. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HDFC Bank

A number of large investors have recently bought and sold shares of HDB. Larson Financial Group LLC lifted its stake in HDFC Bank by 90.4% during the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock valued at $29,000 after acquiring an additional 403 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of HDFC Bank in the second quarter worth $75,000. Pin Oak Investment Advisors Inc. increased its stake in shares of HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after acquiring an additional 498 shares during the period. Graney & King LLC raised its holdings in shares of HDFC Bank by 100.0% during the third quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock worth $41,000 after purchasing an additional 600 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of HDFC Bank during the third quarter worth $43,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HDB. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

HDFC Bank Stock Performance

HDFC Bank stock opened at $25.55 on Thursday. The business’s 50-day simple moving average is $24.72 and its two-hundred day simple moving average is $28.91. The company has a market cap of $130.35 billion, a PE ratio of 15.30, a PEG ratio of 1.20 and a beta of 0.64. HDFC Bank has a fifty-two week low of $22.91 and a fifty-two week high of $39.81.

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).