Leonteq Securities AG Acquires 175,128 Shares of HDFC Bank Limited $HDB

Leonteq Securities AG grew its stake in shares of HDFC Bank Limited (NYSE:HDB) by 419.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 216,879 shares of the bank’s stock after purchasing an additional 175,128 shares during the period. Leonteq Securities AG’s holdings in HDFC Bank were worth $5,396,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Larson Financial Group LLC increased its stake in shares of HDFC Bank by 90.4% in the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after acquiring an additional 403 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in HDFC Bank by 260.9% during the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock worth $34,000 after acquiring an additional 1,002 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its holdings in HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after purchasing an additional 498 shares during the period. Graney & King LLC increased its stake in shares of HDFC Bank by 100.0% during the third quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock valued at $41,000 after purchasing an additional 600 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of HDFC Bank during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Insider Activity

In related news, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the sale, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashish Parthasarthy sold 6,000 shares of the business’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 completion of the transaction, the insider owned 848,558 shares of the company’s stock, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,600 shares of company stock valued at $189,560 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

HDFC Bank Price Performance

Shares of HDFC Bank stock opened at $25.75 on Friday. HDFC Bank Limited has a 1 year low of $22.91 and a 1 year high of $39.81. The firm’s 50-day moving average is $24.71 and its 200 day moving average is $28.84. The stock has a market cap of $131.39 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.18 and a beta of 0.64.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HDB shares. Zacks Research lowered shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, June 18th. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

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).