HDFC Bank Limited (NYSE:HDB) Short Interest Update

HDFC Bank Limited (NYSE:HDB) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 14,804,288 shares, a drop of 34.1% from the May 31st total of 22,476,417 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 10,962,929 shares, the short-interest ratio is currently 1.4 days.

Analysts Set New Price Targets

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

Insider Activity

In other news, insider Ashish Parthasarthy sold 6,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total value of $53,640.00. Following the completion of the transaction, the insider owned 848,558 shares of the company’s stock, valued at $7,586,108.52. The trade was a 0.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $87,200.00. Following the completion of the sale, the insider owned 638,422 shares in the company, valued at $5,567,039.84. The trade was a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 21,600 shares of company stock valued at $189,560. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On HDFC Bank

Several large investors have recently bought and sold shares of HDB. NewEdge Advisors LLC increased its position in shares of HDFC Bank by 8.6% during the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after purchasing an additional 922 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in HDFC Bank by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after purchasing an additional 13,435 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in HDFC Bank by 24.5% during 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 last quarter. Northwestern Mutual Wealth Management Co. boosted 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 worth $114,000 after purchasing an additional 1,221 shares during the last quarter. Finally, First Trust Advisors LP boosted 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 worth $3,952,000 after purchasing an additional 11,689 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Down 1.1%

HDB stock opened at $25.55 on Thursday. The stock has a market capitalization of $130.35 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.20 and a beta of 0.64. The firm has a 50-day simple moving average of $24.72 and a 200-day simple moving average of $28.91. 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).