BNP Paribas Acquires 31,025 Shares of HDFC Bank Limited $HDB

BNP Paribas boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 9.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 357,729 shares of the bank’s stock after buying an additional 31,025 shares during the period. BNP Paribas’ holdings in HDFC Bank were worth $13,072,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PineStone Asset Management Inc. raised its stake in HDFC Bank by 1.9% during the 4th quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock valued at $303,857,000 after buying an additional 151,992 shares during the last quarter. Jacobson & Schmitt Advisors LLC increased its stake in HDFC Bank by 97.7% in the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 383,137 shares of the bank’s stock worth $13,088,000 after buying an additional 189,303 shares in the last quarter. ABN Amro Investment Solutions increased its stake in HDFC Bank by 100.0% in the 3rd quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock worth $7,141,000 after buying an additional 104,525 shares in the last quarter. M&T Bank Corp increased its stake in HDFC Bank by 788.3% in the 4th quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock worth $4,206,000 after buying an additional 102,166 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in HDFC Bank by 102.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock worth $80,936,000 after buying an additional 1,199,084 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

HDFC Bank Stock Performance

HDB opened at $23.57 on Tuesday. The stock has a market cap of $120.24 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 1.10 and a beta of 0.65. The stock’s 50 day moving average price is $25.26 and its 200-day moving average price is $30.71. HDFC Bank Limited has a one year low of $23.31 and a one year high of $39.81.

Insider Buying and Selling

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 transaction, the insider directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the insider directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 31,600 shares of company stock worth $271,660. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

HDFC Bank 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).