Barings LLC Trims Stock Position in HDFC Bank Limited $HDB

Barings LLC reduced its stake in HDFC Bank Limited (NYSE:HDB) by 9.8% during the 1st quarter, HoldingsChannel reports. The firm owned 616,036 shares of the bank’s stock after selling 66,777 shares during the period. Barings LLC’s holdings in HDFC Bank were worth $15,327,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. PineStone Asset Management Inc. boosted its holdings in HDFC Bank by 1.9% during the fourth quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock worth $303,857,000 after buying an additional 151,992 shares in the last quarter. M&T Bank Corp increased its holdings in HDFC Bank by 788.3% in the fourth quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock valued at $4,206,000 after buying an additional 102,166 shares in the last quarter. Matthews International Capital Management LLC lifted its position in shares of HDFC Bank by 58.3% during the 4th quarter. Matthews International Capital Management LLC now owns 343,916 shares of the bank’s stock valued at $12,567,000 after acquiring an additional 126,650 shares during the period. Boston Common Asset Management LLC lifted its position in shares of HDFC Bank by 80.9% during the 4th quarter. Boston Common Asset Management LLC now owns 1,537,511 shares of the bank’s stock valued at $56,181,000 after acquiring an additional 687,812 shares during the period. Finally, State of Michigan Retirement System boosted its stake in shares of HDFC Bank by 32.7% during the 4th quarter. State of Michigan Retirement System now owns 595,200 shares of the bank’s stock worth $21,749,000 after acquiring an additional 146,600 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Insider Activity at HDFC Bank

In other 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 transaction, the insider directly owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This trade represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the transaction, the insider owned 842,958 shares of the company’s stock, valued at $7,333,734.60. This represents a 0.66% 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 worth $189,560 over the last quarter. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

HDB has been the topic of a number of research reports. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Key HDFC Bank News

Here are the key news stories impacting HDFC Bank this week:

• Positive Sentiment: Analysts and preview pieces point to a potentially solid Q1 for HDFC Bank, with profit expected to rise on strong loan growth while net interest margins are seen holding steady, which could support sentiment if results match expectations. HDFC Bank Q1 preview: PAT may rise 9% on strong loan growth; NIMs seen flat
• Positive Sentiment: Broader news flow around HDB Financial Services was upbeat, with quarterly profit hitting a record level and earnings strength prompting a higher target, reinforcing a constructive view of the HDFC group’s credit and lending franchise. HDB Financial share price target upped after highest-ever quarterly profit in Q1
• Neutral Sentiment: Several market roundups highlighted HDB/HDFC-linked names in the day’s earnings calendar, keeping the stock in focus but not providing a direct catalyst on its own. Stocks in news: Wipro, Jio Financial, HDB Financial, HDFC AMC, SBI
• Neutral Sentiment: Value-oriented articles comparing HDFC Bank with another stock and asking whether HDB is overvalued may be contributing to trading around valuation, but they are more opinion-driven than event-driven. BKEAY or HDB: Which is the better value stock right now? Is HDFC Bank Limited (HDB) Overvalued?

HDFC Bank Trading Up 0.4%

NYSE:HDB opened at $26.30 on Friday. The company has a market capitalization of $134.14 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.22 and a beta of 0.64. The firm has a 50-day moving average price of $24.89 and a two-hundred day moving average price of $28.17. HDFC Bank Limited has a twelve month low of $22.91 and a twelve month high of $39.81.

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).