Janney Montgomery Scott LLC Purchases 249,854 Shares of HDFC Bank Limited $HDB

Janney Montgomery Scott LLC increased its position in HDFC Bank Limited (NYSE:HDB) by 1,473.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 266,812 shares of the bank’s stock after purchasing an additional 249,854 shares during the quarter. Janney Montgomery Scott LLC’s holdings in HDFC Bank were worth $6,638,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. PineStone Asset Management Inc. grew its position in shares of HDFC Bank by 1.9% in the 4th 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 during the period. M&T Bank Corp increased its stake in shares of HDFC Bank by 788.3% in the 4th quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock worth $4,206,000 after acquiring an additional 102,166 shares in the last quarter. Matthews International Capital Management LLC boosted its stake in HDFC Bank by 58.3% during the fourth quarter. Matthews International Capital Management LLC now owns 343,916 shares of the bank’s stock worth $12,567,000 after acquiring an additional 126,650 shares in the last quarter. Boston Common Asset Management LLC boosted its stake in HDFC Bank by 80.9% during the fourth quarter. Boston Common Asset Management LLC now owns 1,537,511 shares of the bank’s stock worth $56,181,000 after acquiring an additional 687,812 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in HDFC Bank by 137.6% in the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock worth $861,554,000 after purchasing an additional 14,606,422 shares during the period. 17.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Ashish Parthasarthy sold 6,000 shares of the company’s 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 completion of the sale, the insider owned 848,558 shares in the company, valued at approximately $7,586,108.52. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the transaction, the insider directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 21,600 shares of company stock worth $189,560. 1.00% of the stock is owned by insiders.

HDFC Bank Trading Down 0.1%

HDFC Bank stock opened at $25.75 on Friday. HDFC Bank Limited has a 12 month low of $22.91 and a 12 month high of $39.81. The stock has a fifty day simple moving average of $24.70 and a two-hundred day simple moving average of $28.82. The firm has a market cap of $131.39 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.19 and a beta of 0.64.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HDB shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, 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).