Brown Advisory Inc. Sells 33,916 Shares of HDFC Bank Limited $HDB

Brown Advisory Inc. trimmed its stake in shares of HDFC Bank Limited (NYSE:HDB) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,929,832 shares of the bank’s stock after selling 33,916 shares during the quarter. Brown Advisory Inc.’s holdings in HDFC Bank were worth $435,916,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fayez Sarofim & Co raised its stake in shares of HDFC Bank by 47.6% during the 4th quarter. Fayez Sarofim & Co now owns 281,100 shares of the bank’s stock valued at $10,271,000 after purchasing an additional 90,625 shares during the period. PCM Encore LLC bought a new stake in shares of HDFC Bank during the 4th quarter valued at $1,825,000. Commerce Bank raised its stake in shares of HDFC Bank by 40.6% during the 4th quarter. Commerce Bank now owns 10,822 shares of the bank’s stock valued at $395,000 after purchasing an additional 3,125 shares during the period. GQG Partners LLC raised its stake in shares of HDFC Bank by 1.5% during the 4th quarter. GQG Partners LLC now owns 52,962,709 shares of the bank’s stock valued at $1,935,258,000 after purchasing an additional 777,977 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of HDFC Bank by 4.1% during the 4th quarter. Schroder Investment Management Group now owns 26,264,726 shares of the bank’s stock valued at $959,713,000 after purchasing an additional 1,043,596 shares during the period. 17.61% of the stock is currently owned by institutional investors.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ashish Parthasarthy sold 6,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total value of $53,640.00. Following the completion of the transaction, the insider owned 848,558 shares of the company’s stock, valued at $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,600 shares of company stock worth $271,660 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

HDFC Bank Stock Up 1.4%

Shares of NYSE HDB opened at $24.15 on Friday. The firm has a market capitalization of $123.21 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.12 and a beta of 0.65. The stock’s 50-day simple moving average is $25.00 and its two-hundred day simple moving average is $29.93. HDFC Bank Limited has a twelve month low of $22.91 and a twelve month high of $39.81.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, HDFC Bank presently has a consensus rating of “Reduce”.

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).