HDFC Bank Limited $HDB Shares Sold by Compound Planning Inc.

Key Points

• Compound Planning Inc. cut its HDFC Bank stake by 74.2% in the first quarter, selling 45,344 shares and retaining 15,745 shares valued at approximately $392,000.
• Several other institutional investors increased their holdings, including KBC Group, ABN Amro Investment Solutions and Matthews International Capital Management; institutions and hedge funds collectively own 17.61% of the stock.
• HDFC Bank reported quarterly EPS of $0.40, beating the $0.38 consensus estimate, while analysts maintained a consensus “Hold” rating despite mixed recent recommendations.

Compound Planning Inc. reduced its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 74.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,745 shares of the bank's stock after selling 45,344 shares during the quarter. Compound Planning Inc.'s holdings in HDFC Bank were worth $392,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. PineStone Asset Management Inc. boosted its stake in shares of HDFC Bank by 1.9% in the fourth quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank's stock valued at $303,857,000 after purchasing an additional 151,992 shares during the period. KBC Group NV increased its stake in HDFC Bank by 26.9% during the 1st quarter. KBC Group NV now owns 404,884 shares of the bank's stock worth $10,074,000 after buying an additional 85,882 shares during the period. M&T Bank Corp increased its stake in HDFC Bank by 788.3% during the 4th quarter. M&T Bank Corp now owns 115,126 shares of the bank's stock worth $4,206,000 after buying an additional 102,166 shares during the period. ABN Amro Investment Solutions lifted its holdings in HDFC Bank by 66.0% in the 1st quarter. ABN Amro Investment Solutions now owns 1,498,938 shares of the bank's stock worth $37,294,000 after buying an additional 595,912 shares in the last quarter. Finally, Matthews International Capital Management LLC lifted its holdings in HDFC Bank by 58.3% in the 4th quarter. Matthews International Capital Management LLC now owns 343,916 shares of the bank's stock worth $12,567,000 after buying an additional 126,650 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Trading Up 2.0%

HDB stock opened at $24.04 on Thursday. The firm has a 50 day simple moving average of $24.78 and a 200-day simple moving average of $27.45. The company has a market capitalization of $122.66 billion, a P/E ratio of 14.14, a PEG ratio of 1.11 and a beta of 0.64. HDFC Bank Limited has a twelve month low of $22.66 and a twelve month high of $38.72.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. HDFC Bank had a net margin of 15.96% and a return on equity of 13.12%. The firm had revenue of $9.01 billion for the quarter, compared to analysts' expectations of $5 billion. On average, research analysts predict that HDFC Bank Limited will post 1.67 EPS for the current year.

Analysts Set New Price Targets

HDB has been the subject of a number of analyst reports. Zacks Research raised shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a research report on Friday, July 17th. Weiss Ratings raised HDFC Bank from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, July 20th. Finally, Wall Street Zen cut HDFC Bank from a "hold" rating to a "sell" rating in a research note on Saturday, July 18th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold".

Insider Buying and Selling at HDFC Bank

In other news, 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 owned 638,422 shares of the company's stock, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company's stock.

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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