Polen Capital Management LLC Sells 226,353 Shares of HDFC Bank Limited $HDB

Polen Capital Management LLC lowered its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 38.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 367,007 shares of the bank’s stock after selling 226,353 shares during the quarter. Polen Capital Management LLC’s holdings in HDFC Bank were worth $13,410,000 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 holdings 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 valued at $29,000 after purchasing an additional 403 shares during the last quarter. Accent Capital Management LLC grew its holdings 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 acquiring an additional 459 shares during the last quarter. Clearstead Advisors LLC grew its holdings 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 acquiring an additional 739 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its holdings 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 acquiring an additional 498 shares during the last quarter. Finally, Graney & King LLC grew its holdings in HDFC Bank by 100.0% in the 3rd quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock worth $41,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Insider Activity

In other news, insider Ashish Parthasarthy sold 5,600 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the completion of the sale, the insider directly owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the sale, the insider directly owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 31,600 shares of company stock valued at $271,660. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, HDFC Bank presently has a consensus rating of “Reduce”.

HDFC Bank Trading Up 2.6%

NYSE:HDB opened at $23.81 on Friday. The company has a 50-day moving average price of $25.01 and a 200-day moving average price of $29.97. HDFC Bank Limited has a 12 month low of $22.91 and a 12 month high of $39.81. The stock has a market cap of $121.48 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 1.07 and a beta of 0.65.

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).