Letko Brosseau & Associates Inc. Buys 46,775 Shares of HDFC Bank Limited $HDB

Letko Brosseau & Associates Inc. grew its stake in shares of HDFC Bank Limited (NYSE:HDB) by 35.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,035 shares of the bank’s stock after buying an additional 46,775 shares during the period. Letko Brosseau & Associates Inc.’s holdings in HDFC Bank were worth $6,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of HDB. NewEdge Advisors LLC raised its position in shares of 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 buying an additional 922 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of HDFC Bank by 1.5% during the first quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after buying an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of HDFC Bank by 24.5% in the second quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock valued at $601,000 after purchasing an additional 1,541 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in HDFC Bank by 464.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after purchasing an additional 1,221 shares during the last quarter. Finally, First Trust Advisors LP increased its position in HDFC Bank by 29.3% in the second quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock worth $3,952,000 after purchasing an additional 11,689 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB opened at $23.26 on Wednesday. The company’s fifty day moving average is $25.05 and its 200 day moving average is $30.15. HDFC Bank Limited has a fifty-two week low of $22.91 and a fifty-two week high of $39.81. The stock has a market capitalization of $118.63 billion, a PE ratio of 13.93, a P/E/G ratio of 1.07 and a beta of 0.65.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, HDFC Bank currently has a consensus rating of “Reduce”.

Insider Buying and Selling at HDFC Bank

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction 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 transaction, the insider directly owned 842,958 shares of the company’s stock, valued at $7,333,734.60. The trade was a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,600 shares of company stock worth $271,660 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

About HDFC Bank

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).