Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stock Holdings in HDFC Bank Limited $HDB

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in HDFC Bank Limited (NYSE:HDB) by 14.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 576,635 shares of the bank’s stock after purchasing an additional 74,529 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in HDFC Bank were worth $21,070,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Snowden Capital Advisors LLC grew its stake in HDFC Bank by 5.8% in the second quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock worth $438,000 after purchasing an additional 311 shares during the period. Sequoia Financial Advisors LLC grew its stake in HDFC Bank by 0.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock worth $2,711,000 after purchasing an additional 345 shares during the period. Flputnam Investment Management Co. grew its stake in HDFC Bank by 2.6% in the fourth quarter. Flputnam Investment Management Co. now owns 14,363 shares of the bank’s stock worth $525,000 after purchasing an additional 361 shares during the period. Cullen Frost Bankers Inc. grew its stake in HDFC Bank by 19.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock worth $85,000 after purchasing an additional 384 shares during the period. Finally, Figure 8 Investment Strategies LLC grew its stake in HDFC Bank by 0.8% in the fourth quarter. Figure 8 Investment Strategies LLC now owns 48,510 shares of the bank’s stock worth $1,773,000 after purchasing an additional 400 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce”.

Insider Transactions at HDFC Bank

In related news, insider Ashish Parthasarthy sold 6,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total value of $53,640.00. Following the transaction, the insider owned 848,558 shares in the company, valued at $7,586,108.52. The trade was a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 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. The trade was a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 31,600 shares of company stock worth $271,660. 1.00% of the stock is currently owned by company insiders.

HDFC Bank Trading Down 0.0%

NYSE HDB opened at $23.78 on Monday. The stock’s fifty day moving average price is $25.31 and its 200-day moving average price is $30.80. The stock has a market cap of $121.29 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.10 and a beta of 0.65. HDFC Bank Limited has a 12 month low of $23.31 and a 12 month high of $39.81.

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).