Ovata Capital Management Ltd Acquires New Shares in HDFC Bank Limited $HDB

Ovata Capital Management Ltd bought a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 277,332 shares of the bank’s stock, valued at approximately $10,022,000. HDFC Bank comprises 1.2% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 20th largest holding.

A number of other institutional investors have also recently made changes to their positions in HDB. NewEdge Advisors LLC lifted its position in HDFC Bank by 8.6% during the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after purchasing an additional 922 shares during the period. Goldman Sachs Group Inc. grew its position in HDFC Bank by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after purchasing an additional 13,435 shares during the period. Sivia Capital Partners LLC grew its position in HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after purchasing an additional 1,541 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in HDFC Bank by 464.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock valued at $114,000 after buying an additional 1,221 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in HDFC Bank by 29.3% during the 2nd quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock valued at $3,952,000 after buying an additional 11,689 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, HDFC Bank currently has a consensus rating of “Reduce”.

Insider Activity

In related news, insider N Srinivasan sold 10,000 shares of the stock in a transaction that occurred on 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 represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ashish Parthasarthy sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 848,558 shares in the company, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 31,600 shares of company stock worth $271,660 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

HDFC Bank Stock Performance

NYSE HDB opened at $25.11 on Friday. The company has a market capitalization of $128.08 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65. The business’s fifty day moving average is $24.94 and its 200 day moving average is $29.52. HDFC Bank Limited has a fifty-two week low of $22.91 and a fifty-two 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).