HDFC Bank Limited $HDB Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in HDFC Bank Limited (NYSE:HDB) by 98.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,090 shares of the bank’s stock after selling 629,567 shares during the quarter. Pictet Asset Management Holding SA’s holdings in HDFC Bank were worth $251,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC raised its stake in shares of 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 period. Cary Street Partners Financial LLC purchased a new position in shares of HDFC Bank in the second quarter valued at $75,000. Pin Oak Investment Advisors Inc. boosted its stake in shares of HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after purchasing an additional 498 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in HDFC Bank during the 3rd quarter valued at $43,000. Finally, Bell Investment Advisors Inc grew its holdings in HDFC Bank by 260.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,002 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HDB. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Zacks Research cut shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, HDFC Bank presently has a consensus rating of “Sell”.

HDFC Bank Stock Up 0.1%

Shares of NYSE HDB opened at $26.52 on Monday. HDFC Bank Limited has a fifty-two week low of $22.91 and a fifty-two week high of $39.81. The business has a 50 day moving average price of $24.83 and a two-hundred day moving average price of $28.46. The firm has a market cap of $135.31 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.23 and a beta of 0.64.

Insider Activity at HDFC Bank

In other news, insider Ashish Parthasarthy sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the sale, the insider owned 848,558 shares of the company’s stock, valued at approximately $7,586,108.52. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 21,600 shares of company stock valued at $189,560. Company insiders own 1.00% of the company’s stock.

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).