HDFC Bank Target of Unusually Large Options Trading (NYSE:HDB)

HDFC Bank Limited (NYSE:HDB) was the target of some unusual options trading activity on Monday. Investors acquired 2,772 call options on the company. This represents an increase of 250% compared to the average daily volume of 791 call options.

Insider Buying and Selling at HDFC Bank

In other news, insider Ashish Parthasarthy sold 6,000 shares of the stock in a transaction on Tuesday, April 21st. The stock was 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 $7,586,108.52. This represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider N Srinivasan sold 10,000 shares of HDFC Bank 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 of the company’s stock, valued at $5,567,039.84. The trade was a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,600 shares of company stock worth $189,560 over the last three months. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased 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 in the last quarter. Cary Street Partners Financial LLC bought a new stake in HDFC Bank during the 2nd quarter worth approximately $75,000. Pin Oak Investment Advisors Inc. lifted its holdings in HDFC Bank by 100.0% during 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 in the last quarter. Graney & King LLC lifted its holdings in HDFC Bank by 100.0% during the third quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock valued at $41,000 after purchasing an additional 600 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of HDFC Bank in the third quarter worth approximately $43,000. Institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HDB shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Zacks Research lowered shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, HDFC Bank currently has an average rating of “Sell”.

HDFC Bank Trading Up 6.0%

NYSE HDB traded up $1.55 on Monday, hitting $27.32. 5,027,981 shares of the company traded hands, compared to its average volume of 8,738,668. The company has a market capitalization of $139.40 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 1.19 and a beta of 0.64. The business’s 50 day moving average price is $24.70 and its 200-day moving average price is $28.77. HDFC Bank has a 52-week low of $22.91 and a 52-week high of $39.81.

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).