HDFC Bank Limited $HDB Shares Bought by State of Michigan Retirement System

Key Points

• State of Michigan Retirement System increased its stake in HDFC Bank by 32.7% in Q4, buying an additional 146,600 shares to hold 595,200 shares valued at about $21.75 million.
• Insiders N. Srinivasan and Ashish Parthasarthy sold 10,000 and 6,000 shares respectively in March–April, modestly reducing their positions; insiders now own roughly 1.00% of the company.
• Wall Street sentiment is cautious—the stock has an average rating of "Reduce" (one Hold, one Sell) after Weiss Ratings downgraded it to Sell; HDB recently opened around $25.71 with a 12‑month range of $23.91–$39.81 and a market cap near $131.2 billion.

State of Michigan Retirement System lifted its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 32.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 595,200 shares of the bank's stock after acquiring an additional 146,600 shares during the period. State of Michigan Retirement System's holdings in HDFC Bank were worth $21,749,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Larson Financial Group LLC increased its position in shares of HDFC Bank by 90.4% in the third quarter. Larson Financial Group LLC now owns 849 shares of the bank's stock worth $29,000 after acquiring an additional 403 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of HDFC Bank by 476.8% in the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank's stock worth $31,000 after acquiring an additional 739 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of HDFC Bank by 54.5% in the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank's stock worth $31,000 after acquiring an additional 322 shares in the last quarter. Accent Capital Management LLC increased its position in shares of HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank's stock worth $31,000 after acquiring an additional 459 shares in the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of HDFC Bank in the second quarter worth $75,000. Institutional investors and hedge funds own 17.61% of the company's stock.

Insiders Place Their Bets

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the business's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $8.21, for a total value of $82,100.00. Following the transaction, the insider owned 648,422 shares in the company, valued at $5,323,544.62. The trade was a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ashish Parthasarthy sold 6,000 shares of the business's stock in a transaction 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 completion of the transaction, the insider owned 848,558 shares in the company, valued at $7,586,108.52. This represents a 0.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company's stock.

HDFC Bank Price Performance

Shares of HDB stock opened at $25.71 on Tuesday. HDFC Bank Limited has a 12 month low of $23.91 and a 12 month high of $39.81. The firm has a market capitalization of $131.18 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.19 and a beta of 0.67. The company's fifty day moving average price is $27.96 and its two-hundred day moving average price is $32.60.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HDB. Weiss Ratings lowered shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 6th. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average 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).

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