Hsbc Holdings PLC Sells 950,526 Shares of HDFC Bank Limited $HDB

Hsbc Holdings PLC lowered its position in shares of HDFC Bank Limited (NYSE:HDB) by 30.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,156,321 shares of the bank’s stock after selling 950,526 shares during the period. Hsbc Holdings PLC’s holdings in HDFC Bank were worth $77,940,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. BSN CAPITAL PARTNERS Ltd bought a new stake in shares of HDFC Bank in the fourth quarter worth about $19,364,000. Ovata Capital Management Ltd bought a new position in HDFC Bank during the 4th quarter valued at approximately $10,022,000. Caitong International Asset Management Co. Ltd raised its position in HDFC Bank by 736.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 10,415 shares of the bank’s stock valued at $381,000 after purchasing an additional 9,170 shares during the last quarter. Tobam lifted its holdings in HDFC Bank by 0.7% in the 4th quarter. Tobam now owns 69,316 shares of the bank’s stock worth $2,533,000 after buying an additional 481 shares during the period. Finally, MidFirst Bank purchased a new stake in HDFC Bank in the 4th quarter worth approximately $159,000. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 0.0%

NYSE:HDB opened at $25.06 on Tuesday. The company has a 50-day moving average price of $24.90 and a 200-day moving average price of $29.41. The stock has a market cap of $127.86 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.40 and a beta of 0.65. HDFC Bank Limited has a 12 month low of $22.91 and a 12 month high of $39.81.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider Ashish Parthasarthy sold 6,000 shares of HDFC Bank stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total transaction of $53,640.00. Following the sale, the insider directly owned 848,558 shares of the company’s stock, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider N Srinivasan sold 10,000 shares of the company’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 value of $87,200.00. Following the transaction, the insider owned 638,422 shares in the company, valued at $5,567,039.84. This trade represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 21,600 shares of company stock valued at $189,560. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

HDFC Bank 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).