HDFC Bank Limited $HDB Shares Sold by Compound Planning Inc.

Compound Planning Inc. cut its position in shares of HDFC Bank Limited (NYSE:HDB) by 74.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 15,745 shares of the bank’s stock after selling 45,344 shares during the period. Compound Planning Inc.’s holdings in HDFC Bank were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in HDB. Larson Financial Group LLC increased its stake in HDFC Bank by 90.4% during the third 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. Bell Investment Advisors Inc lifted its position in shares of HDFC Bank by 260.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock worth $34,000 after buying an additional 1,002 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its position in shares of 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 buying an additional 498 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of HDFC Bank in the 3rd quarter valued at about $43,000. Finally, BOCHK Asset Management Ltd boosted its holdings in shares of HDFC Bank by 125.0% in the 4th quarter. BOCHK Asset Management Ltd now owns 1,800 shares of the bank’s stock valued at $66,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Insiders Place Their Bets

In other HDFC Bank news, 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 sale, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. The trade was a 1.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HDB shares. Wall Street Zen lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 20th. Finally, Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

HDFC Bank Stock Performance

HDFC Bank stock opened at $24.04 on Thursday. HDFC Bank Limited has a one year low of $22.66 and a one year high of $38.72. The company has a 50-day simple moving average of $24.78 and a 200-day simple moving average of $27.45. The firm has a market capitalization of $122.66 billion, a P/E ratio of 14.14, a P/E/G ratio of 1.11 and a beta of 0.64.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. HDFC Bank had a net margin of 15.96% and a return on equity of 13.12%. The firm had revenue of $9.01 billion during the quarter, compared to analyst estimates of $5 billion. As a group, sell-side analysts forecast that HDFC Bank Limited will post 1.67 earnings per share for the current year.

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).