HDFC Bank (NYSE:HDB) Reaches New 12-Month Low – What’s Next?

HDFC Bank Limited (NYSE:HDB) reached a new 52-week low on Monday . The company traded as low as $24.18 and last traded at $24.21, with a volume of 31717 shares traded. The stock had previously closed at $24.35.

Analyst Upgrades and Downgrades

HDB has been the topic of several analyst reports. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, HDFC Bank has an average rating of “Reduce”.

HDFC Bank Stock Down 0.2%

The stock’s 50-day moving average price is $30.87 and its 200 day moving average price is $33.89. The firm has a market cap of $124.01 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.01 and a beta of 0.56.

Insider Buying and Selling at HDFC Bank

In other news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $8.21, for a total transaction of $82,100.00. Following the sale, the insider directly owned 648,422 shares in the company, valued at approximately $5,323,544.62. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On HDFC Bank

Institutional investors and hedge funds have recently bought and sold shares of the business. Central Pacific Bank Trust Division increased its stake in HDFC Bank by 100.0% in the third quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after acquiring an additional 379 shares during the period. Larson Financial Group LLC raised its holdings in HDFC Bank by 90.4% during the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after purchasing an additional 403 shares during the last quarter. Clearstead Advisors LLC boosted its stake in HDFC Bank by 476.8% during the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after acquiring an additional 739 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in HDFC Bank by 54.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after buying an additional 322 shares during the period. Finally, Accent Capital Management LLC grew its holdings in shares of HDFC Bank by 100.0% during the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after buying an additional 459 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

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).