HDFC Bank (NYSE:HDB) Insider Ashish Parthasarthy Sells 5,600 Shares

HDFC Bank Limited (NYSE:HDB) insider Ashish Parthasarthy sold 5,600 shares of the company’s 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 completion of the transaction, the insider directly owned 842,958 shares in the company, valued at $7,333,734.60. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Ashish Parthasarthy also recently made the following trade(s):

• On Tuesday, April 21st, Ashish Parthasarthy sold 6,000 shares of HDFC Bank stock. The shares were sold at an average price of $8.94, for a total value of $53,640.00.

HDFC Bank Trading Up 0.7%

HDB stock opened at $25.43 on Friday. The stock has a market capitalization of $129.71 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.17 and a beta of 0.67. The stock’s 50 day simple moving average is $27.50 and its 200 day simple moving average is $32.43. HDFC Bank Limited has a 12-month low of $23.91 and a 12-month high of $39.81.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC boosted its holdings 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 valued at $29,000 after purchasing an additional 403 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after acquiring an additional 322 shares during the last quarter. Accent Capital Management LLC lifted its holdings in shares of HDFC Bank by 100.0% in the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after acquiring an additional 459 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of HDFC Bank by 476.8% in the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after acquiring an additional 739 shares during the last quarter. Finally, Bell Investment Advisors Inc lifted 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 acquiring an additional 1,002 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

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

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).