HDFC Bank Limited $HDB Shares Sold by Barings LLC

Key Points

• Barings LLC trimmed its HDFC Bank stake by 9.8% in the first quarter, selling 66,777 shares and ending with 616,036 shares valued at about $15.3 million.
• Insider selling continued recently, with Ashish Parthasarthy and N Srinivasan both reducing their holdings; insiders have sold 21,600 shares worth $189,560 over the past 90 days.
• Analyst sentiment remains cautious, with Weiss Ratings reaffirming a sell rating and Zacks Research cutting HDFC Bank to strong sell, while the stock also traded at $26.30 versus a 52-week range of $22.91 to $39.81.

Barings LLC reduced its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 616,036 shares of the bank's stock after selling 66,777 shares during the period. Barings LLC's holdings in HDFC Bank were worth $15,327,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in HDB. Larson Financial Group LLC grew 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 worth $29,000 after purchasing an additional 403 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of HDFC Bank in the 2nd quarter valued at about $75,000. Pin Oak Investment Advisors Inc. grew its position in shares of HDFC Bank by 100.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank's stock worth $34,000 after buying an additional 498 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of HDFC Bank during the third quarter worth about $43,000. Finally, Bell Investment Advisors Inc grew its position in shares of HDFC Bank by 260.9% during the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank's stock worth $34,000 after buying an additional 1,002 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting HDFC Bank

Here are the key news stories impacting HDFC Bank this week:

• Positive Sentiment: Analysts and preview pieces point to a potentially solid Q1 for HDFC Bank, with profit expected to rise on strong loan growth while net interest margins are seen holding steady, which could support sentiment if results match expectations. HDFC Bank Q1 preview: PAT may rise 9% on strong loan growth; NIMs seen flat
• Positive Sentiment: Broader news flow around HDB Financial Services was upbeat, with quarterly profit hitting a record level and earnings strength prompting a higher target, reinforcing a constructive view of the HDFC group’s credit and lending franchise. HDB Financial share price target upped after highest-ever quarterly profit in Q1
• Neutral Sentiment: Several market roundups highlighted HDB/HDFC-linked names in the day’s earnings calendar, keeping the stock in focus but not providing a direct catalyst on its own. Stocks in news: Wipro, Jio Financial, HDB Financial, HDFC AMC, SBI
• Neutral Sentiment: Value-oriented articles comparing HDFC Bank with another stock and asking whether HDB is overvalued may be contributing to trading around valuation, but they are more opinion-driven than event-driven. BKEAY or HDB: Which is the better value stock right now? Is HDFC Bank Limited (HDB) Overvalued?

Insider Activity at HDFC Bank

In other news, insider Ashish Parthasarthy sold 5,600 shares of the business'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 transaction of $48,720.00. Following the completion of the sale, the insider owned 842,958 shares in the company, valued at approximately $7,333,734.60. The trade was a 0.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider N Srinivasan sold 10,000 shares of the business's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the sale, the insider directly owned 638,422 shares of the company's stock, valued at $5,567,039.84. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,600 shares of company stock valued at $189,560 in the last 90 days. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

HDB has been the topic of several analyst reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Zacks Research cut shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, HDFC Bank presently has a consensus rating of "Sell".

HDFC Bank Stock Performance

NYSE:HDB opened at $26.30 on Friday. The stock has a 50-day simple moving average of $24.89 and a 200-day simple moving average of $28.17. The stock has a market cap of $134.14 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.22 and a beta of 0.64. HDFC Bank Limited has a 1 year low of $22.91 and a 1 year high of $39.81.

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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