Prudential PLC Buys 42,500 Shares of HDFC Bank Limited $HDB

Prudential PLC lifted its stake in HDFC Bank Limited (NYSE:HDB) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 358,632 shares of the bank’s stock after purchasing an additional 42,500 shares during the quarter. Prudential PLC’s holdings in HDFC Bank were worth $13,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Larson Financial Group LLC raised its holdings in HDFC Bank by 90.4% in 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 last quarter. Clearstead Advisors LLC raised 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. Accent Capital Management LLC raised 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. Cary Street Partners Financial LLC purchased a new position in HDFC Bank in the 2nd quarter worth approximately $75,000. Finally, Pin Oak Investment Advisors Inc. raised 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. 17.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

HDFC Bank Trading Down 2.7%

Shares of HDB opened at $23.39 on Friday. The firm has a market cap of $119.33 billion, a PE ratio of 14.01, a P/E/G ratio of 1.11 and a beta of 0.65. The firm has a fifty day simple moving average of $25.11 and a two-hundred day simple moving average of $30.39. HDFC Bank Limited has a 1-year low of $23.31 and a 1-year high of $39.81.

Insider Buying and Selling at HDFC Bank

In other news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the sale, 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. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ashish Parthasarthy sold 5,600 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the completion of the sale, the insider owned 842,958 shares of the company’s stock, valued at $7,333,734.60. This trade represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,600 shares of company stock valued at $271,660 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

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).