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

Key Points

• N. Srinivasan sold 10,000 shares of HDFC Bank on March 23 at an average price of $8.21 for $82,100, leaving him with 648,422 shares (a 1.52% reduction), as disclosed in an SEC filing.
• HDFC Bank ADRs traded at $25.49 midday with a market capitalization of $130.01 billion, a P/E of 15.31 and a 52‑week range of $24.74–$39.81.
• Several institutional investors materially increased their stakes in the third quarter (institutions now own 17.61% of the stock), while analyst coverage is mixed and MarketBeat shows a consensus rating of “Reduce” (one Hold, one Sell).

HDFC Bank Limited (NYSE:HDB - Get Free Report) insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $8.21, for a total transaction of $82,100.00. Following the sale, the insider directly owned 648,422 shares of the company's stock, valued at $5,323,544.62. This trade represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded up $0.09 during midday trading on Tuesday, hitting $25.49. 1,706,518 shares of the stock were exchanged, compared to its average volume of 8,066,834. The company has a market capitalization of $130.01 billion, a PE ratio of 15.31, a P/E/G ratio of 1.06 and a beta of 0.56. HDFC Bank Limited has a 52-week low of $24.74 and a 52-week high of $39.81. The business's fifty day simple moving average is $31.48 and its two-hundred day simple moving average is $34.18.

Institutional Investors Weigh In On HDFC Bank

A number of hedge funds have recently bought and sold shares of HDB. Hudson Edge Investment Partners Inc. raised its stake in HDFC Bank by 100.6% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank's stock valued at $51,452,000 after purchasing an additional 755,200 shares during the last quarter. Jacobson & Schmitt Advisors LLC raised its position in shares of HDFC Bank by 97.7% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 383,137 shares of the bank's stock valued at $13,088,000 after buying an additional 189,303 shares during the last quarter. ABN Amro Investment Solutions lifted its stake in shares of HDFC Bank by 100.0% in the third quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank's stock valued at $7,141,000 after buying an additional 104,525 shares during the period. State of New Jersey Common Pension Fund D grew its position in HDFC Bank by 102.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank's stock worth $80,936,000 after buying an additional 1,199,084 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in HDFC Bank by 77.3% during the third quarter. Impax Asset Management Group plc now owns 1,687,380 shares of the bank's stock worth $57,641,000 after buying an additional 735,409 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. 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. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday, January 23rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce".

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.