Pzena Investment Management LLC Has $37.80 Million Stock Holdings in HDFC Bank Limited $HDB

Pzena Investment Management LLC grew its stake in HDFC Bank Limited (NYSE:HDB) by 81.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,519,501 shares of the bank’s stock after purchasing an additional 681,053 shares during the quarter. Pzena Investment Management LLC’s holdings in HDFC Bank were worth $37,805,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. GQG Partners LLC boosted its holdings 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 during the last quarter. Royal Bank of Canada boosted its stake in HDFC Bank by 31.0% during the 4th quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock worth $1,457,865,000 after acquiring an additional 9,451,992 shares during the last quarter. Schroder Investment Management Group grew its holdings 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 valued at $959,713,000 after purchasing an additional 1,043,596 shares during the period. JPMorgan Chase & Co. increased its stake in HDFC Bank by 6.8% in the fourth quarter. JPMorgan Chase & Co. now owns 20,504,634 shares of the bank’s stock valued at $749,239,000 after purchasing an additional 1,299,851 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in HDFC Bank by 106.1% in the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock valued at $474,310,000 after purchasing an additional 7,147,440 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $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 is available through this link. Also, insider Ashish Parthasarthy sold 6,000 shares of the stock in a transaction 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 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 21,600 shares of company stock valued at $189,560. 1.00% of the stock is owned by corporate insiders.

HDFC Bank Price Performance

HDB opened at $25.55 on Thursday. The business’s 50-day moving average price is $24.72 and its two-hundred day moving average price is $28.91. HDFC Bank Limited has a 1 year low of $22.91 and a 1 year high of $39.81. The company has a market capitalization of $130.35 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 1.20 and a beta of 0.64.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company 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).