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

Key Points

• OVERSEA CHINESE BANKING Corp Ltd boosted its stake in HDFC Bank by 97.3% in Q4, buying 175,856 additional shares to hold 356,588 shares worth about $13.03 million.
• Analyst sentiment is mixed-to-weak with a MarketBeat consensus of "Reduce"; recent notes include a downgrade from Weiss Ratings to "sell (d+)" while Wall Street Zen moved the stock from "sell" to "hold."
• HDFC Bank ADR (NYSE:HDB) trades near $26.49 with a 52-week range of $23.91–$39.81, a market cap of $135.12B and a P/E of 15.86; institutional investors own 17.61% and an insider sold 10,000 shares on March 23 (insiders own ~1%).

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 97.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm 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.

Several other institutional investors and hedge funds also recently made changes to their positions in HDB. Larson Financial Group LLC grew its stake 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 worth $29,000 after acquiring an additional 403 shares during the period. Parkside Financial Bank & Trust boosted its stake in HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank's stock worth $31,000 after purchasing an additional 322 shares during the period. Accent Capital Management LLC boosted its stake in HDFC Bank by 100.0% in the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank's stock worth $31,000 after purchasing an additional 459 shares during the period. Clearstead Advisors LLC boosted its stake in HDFC Bank by 476.8% in the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank's stock worth $31,000 after purchasing an additional 739 shares during the period. Finally, Pin Oak Investment Advisors Inc. boosted its stake in HDFC Bank by 100.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank's stock worth $34,000 after purchasing an additional 498 shares during the period. Institutional investors own 17.61% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on HDB shares. Weiss Ratings downgraded HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 6th. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce".

HDFC Bank Stock Down 0.3%

Shares of NYSE HDB opened at $26.49 on Wednesday. HDFC Bank Limited has a 52 week low of $23.91 and a 52 week high of $39.81. The business has a 50-day simple moving average of $28.52 and a two-hundred day simple moving average of $32.85. The company has a market cap of $135.12 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.03 and a beta of 0.67.

Insider Activity

In other news, insider N Srinivasan sold 10,000 shares of HDFC Bank 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 completion of the sale, the insider owned 648,422 shares in the company, valued at approximately $5,323,544.62. This trade represents a 1.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company's stock.

HDFC Bank Company 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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