HDFC Bank (NYSE:HDB) Insider N Srinivasan Sells 10,000 Shares of Stock

Key Points

• Insider sale: N Srinivasan sold 10,000 HDFC Bank shares on May 7 at an average of $8.72 for $87,200, leaving him with 638,422 shares (a 1.54% ownership decrease, valued at about $5.57M).
• Analyst sentiment: The stock has mixed recent analyst moves (Wall Street Zen to Hold; Weiss Ratings to Sell) and an average MarketBeat rating of "Reduce."
• Stock snapshot: HDFC Bank ADRs opened at $25.67, trade in a 52-week range of $23.91–$39.81, and carry a market cap of $130.93 billion with a P/E of 15.37.

HDFC Bank Limited (NYSE:HDB - Get Free Report) insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the sale, the insider owned 638,422 shares in the company, valued at $5,567,039.84. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

N Srinivasan also recently made the following trade(s):

• On Monday, March 23rd, N Srinivasan sold 10,000 shares of HDFC Bank stock. The shares were sold at an average price of $8.21, for a total value of $82,100.00.

HDFC Bank Trading Up 0.1%

HDFC Bank stock opened at $25.67 on Friday. HDFC Bank Limited has a 52 week low of $23.91 and a 52 week high of $39.81. The stock has a market cap of $130.93 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.19 and a beta of 0.68. The stock has a 50 day moving average of $27.06 and a 200-day moving average of $32.17.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday, January 23rd. Weiss Ratings lowered shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, HDFC Bank currently has an average rating of "Reduce".

Institutional Investors Weigh In On HDFC Bank

Institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC increased its stake in HDFC Bank by 8.6% during the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank's stock valued at $776,000 after purchasing an additional 922 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of HDFC Bank by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank's stock worth $58,723,000 after buying an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank's stock valued at $601,000 after buying an additional 1,541 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of HDFC Bank by 464.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank's stock valued at $114,000 after buying an additional 1,221 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of HDFC Bank by 29.3% during the 2nd quarter. First Trust Advisors LP now owns 51,551 shares of the bank's stock valued at $3,952,000 after buying an additional 11,689 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

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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