Sands Capital Management LLC Trims Stake in HDFC Bank Limited $HDB

Sands Capital Management LLC trimmed its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,117,362 shares of the bank’s stock after selling 73,426 shares during the quarter. Sands Capital Management LLC owned about 0.12% of HDFC Bank worth $223,528,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GQG Partners LLC grew its position in HDFC Bank by 1.5% during the fourth quarter. GQG Partners LLC now owns 52,962,709 shares of the bank’s stock worth $1,935,258,000 after buying an additional 777,977 shares in the last quarter. Schroder Investment Management Group grew its position 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 buying an additional 1,043,596 shares in the last quarter. JPMorgan Chase & Co. grew its position in HDFC Bank by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 20,504,634 shares of the bank’s stock worth $749,239,000 after buying an additional 1,299,851 shares in the last quarter. Franklin Resources Inc. lifted its stake in HDFC Bank by 106.1% during the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after purchasing an additional 7,147,440 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in HDFC Bank by 94.3% during 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 last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HDFC Bank

In other news, insider Ashish Parthasarthy sold 5,600 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the completion of the sale, the insider owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. The trade was a 0.66% decrease in their position. The transaction was disclosed in a legal 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 sale, 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 31,600 shares of company stock valued at $271,660. 1.00% of the stock is currently owned by corporate insiders.

HDFC Bank Stock Down 0.1%

Shares of HDB stock opened at $24.15 on Monday. HDFC Bank Limited has a 12-month low of $22.91 and a 12-month high of $39.81. The business has a 50-day moving average price of $25.00 and a two-hundred day moving average price of $29.88. The firm has a market cap of $123.21 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 1.12 and a beta of 0.65.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

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).