OVERSEA CHINESE BANKING Corp Ltd Acquires 175,856 Shares of HDFC Bank Limited $HDB

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 97.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 356,588 shares of the bank’s stock after acquiring an additional 175,856 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in HDFC Bank were worth $13,027,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Snowden Capital Advisors LLC boosted its position in shares of HDFC Bank by 5.8% during the 2nd quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock valued at $438,000 after acquiring an additional 311 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of HDFC Bank by 54.5% during 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. Figure 8 Investment Strategies LLC boosted its position in shares of HDFC Bank by 0.8% during the 4th quarter. Figure 8 Investment Strategies LLC now owns 48,510 shares of the bank’s stock valued at $1,773,000 after acquiring an additional 400 shares during the last quarter. 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 valued at $29,000 after acquiring an additional 403 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of HDFC Bank by 0.9% during the 2nd quarter. Captrust Financial Advisors now owns 48,685 shares of the bank’s stock valued at $3,733,000 after acquiring an additional 418 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.3%

Shares of NYSE HDB opened at $26.49 on Wednesday. The stock has a market cap of $135.12 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.03 and a beta of 0.67. HDFC Bank Limited has a 1-year low of $23.91 and a 1-year high of $39.81. The stock’s 50-day moving average is $28.52 and its 200 day moving average is $32.85.

Analyst Upgrades and Downgrades

HDB has been the subject of a number of research analyst reports. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, HDFC Bank currently has an average rating of “Reduce”.

Insider Buying and Selling at HDFC Bank

In related news, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $8.21, for a total transaction of $82,100.00. Following the transaction, the insider directly owned 648,422 shares of the company’s stock, valued at approximately $5,323,544.62. This trade represents a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate 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).