HDFC Bank Limited $HDB Stock Holdings Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of HDFC Bank Limited (NYSE:HDB) by 16.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,697,209 shares of the bank’s stock after selling 522,164 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.05% of HDFC Bank worth $67,107,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HDB. GQG Partners LLC increased its holdings in shares of HDFC Bank by 1.5% in the 4th quarter. GQG Partners LLC now owns 52,962,709 shares of the bank’s stock valued at $1,935,258,000 after acquiring an additional 777,977 shares during the last quarter. Royal Bank of Canada lifted its stake in HDFC Bank by 31.0% during the fourth quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock worth $1,457,865,000 after purchasing an additional 9,451,992 shares during the last quarter. Schroder Investment Management Group lifted its stake in HDFC Bank by 4.1% during the fourth quarter. Schroder Investment Management Group now owns 26,264,726 shares of the bank’s stock worth $959,713,000 after purchasing an additional 1,043,596 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in HDFC Bank by 6.8% in the fourth quarter. JPMorgan Chase & Co. now owns 20,504,634 shares of the bank’s stock worth $749,239,000 after purchasing an additional 1,299,851 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in HDFC Bank by 94.3% in the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after purchasing an additional 6,386,002 shares during the period. Institutional investors own 17.61% of the company’s stock.

Insiders Place Their Bets

In other news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the transaction, the insider owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ashish Parthasarthy sold 5,600 shares of the 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 sale, the insider directly 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 SEC filing for this sale provides additional information. Insiders sold 21,600 shares of company stock worth $189,560 over the last quarter. 1.00% of the stock is currently owned by company insiders.

HDFC Bank Price Performance

NYSE:HDB traded up $0.00 during midday trading on Friday, reaching $26.52. 4,656,464 shares of the company traded hands, compared to its average volume of 7,309,313. The firm has a market capitalization of $135.31 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.23 and a beta of 0.64. The company has a fifty day moving average price of $24.83 and a 200 day moving average price of $28.51. HDFC Bank Limited has a twelve month low of $22.91 and a twelve month high of $39.81.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HDB. Zacks Research cut shares of 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 research analysts have rated the stock with a Sell rating, According to MarketBeat, HDFC Bank has a consensus rating of “Sell”.

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).