Marietta Investment Partners LLC Reduces Holdings in HDFC Bank Limited $HDB

Marietta Investment Partners LLC lowered its stake in shares of HDFC Bank Limited (NYSE:HDB) by 30.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,742 shares of the bank’s stock after selling 54,360 shares during the quarter. Marietta Investment Partners LLC’s holdings in HDFC Bank were worth $3,128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings 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 buying an additional 403 shares during the last quarter. Bell Investment Advisors Inc raised its stake in 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 acquiring an additional 1,002 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its stake 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. Graney & King LLC lifted its position in HDFC Bank by 100.0% during the 3rd quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock worth $41,000 after acquiring an additional 600 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in HDFC Bank during the 3rd quarter worth about $43,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

Shares of HDFC Bank stock opened at $25.75 on Monday. The stock has a market cap of $131.39 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.19 and a beta of 0.64. The firm has a fifty day moving average price of $24.70 and a 200 day moving average price of $28.77. HDFC Bank Limited has a 1 year low of $22.91 and a 1 year high of $39.81.

Insider Activity

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the transaction, the insider owned 842,958 shares in the company, valued at approximately $7,333,734.60. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the transaction, the insider directly owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,600 shares of company stock worth $189,560 over the last ninety days. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HDB has been the topic of a number of research reports. Zacks Research lowered HDFC Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. 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 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).