HDFC Bank Limited $HDB Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in HDFC Bank Limited (NYSE:HDB) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,054,351 shares of the bank’s stock after selling 340,529 shares during the period. Russell Investments Group Ltd.’s holdings in HDFC Bank were worth $184,686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted 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 worth $29,000 after acquiring an additional 403 shares during the period. Accent Capital Management LLC grew its position in HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after acquiring an additional 459 shares in the last quarter. Clearstead Advisors LLC lifted 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 buying an additional 739 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its holdings in HDFC Bank by 100.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after buying an additional 498 shares during the last quarter. Finally, Graney & King LLC grew its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Insider Activity at HDFC Bank

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the transaction, the insider owned 842,958 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the transaction, the insider directly owned 638,422 shares in the company, valued at $5,567,039.84. This represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 31,600 shares of company stock valued at $271,660. Company insiders own 1.00% of the company’s stock.

HDFC Bank Stock Performance

Shares of NYSE HDB opened at $25.29 on Wednesday. The stock has a fifty day moving average price of $25.00 and a two-hundred day moving average price of $29.72. HDFC Bank Limited has a 1 year low of $22.91 and a 1 year high of $39.81. The firm has a market cap of $129.00 billion, a P/E ratio of 15.14, a PEG ratio of 1.15 and a beta of 0.65.

Analysts Set New Price Targets

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 given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average 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).