HDFC Bank (NYSE:HDB) Reaches New 52-Week Low – Should You Sell?

Shares of HDFC Bank Limited (NYSE:HDB) hit a new 52-week low on Monday . The company traded as low as $23.23 and last traded at $23.2650, with a volume of 553534 shares traded. The stock had previously closed at $23.41.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

HDFC Bank Price Performance

The company has a fifty day moving average of $25.05 and a 200 day moving average of $30.15. The firm has a market capitalization of $118.63 billion, a P/E ratio of 13.93, a PEG ratio of 1.07 and a beta of 0.65.

Insider Activity

In related news, insider Ashish Parthasarthy sold 5,600 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total transaction of $48,720.00. Following the transaction, the insider directly owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. This represents a 0.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $87,200.00. Following the transaction, the insider directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 31,600 shares of company stock worth $271,660. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of HDFC Bank by 90.4% in the third 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. Accent Capital Management LLC grew its holdings in shares of HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after acquiring an additional 459 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of HDFC Bank by 476.8% in the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after acquiring an additional 739 shares in the last quarter. Axiom Investment Management LLC bought a new position in shares of HDFC Bank in the first quarter valued at approximately $32,000. Finally, Bell Investment Advisors Inc grew its holdings in HDFC Bank by 260.9% during the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,002 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

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).