Polen Capital Management LLC Sells 226,353 Shares of HDFC Bank Limited $HDB

Polen Capital Management LLC lessened its position in shares of HDFC Bank Limited (NYSE:HDB) by 38.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 367,007 shares of the bank’s stock after selling 226,353 shares during the period. Polen Capital Management LLC’s holdings in HDFC Bank were worth $13,410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of HDB. Larson Financial Group LLC raised its position in shares of HDFC Bank by 90.4% during the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock valued at $29,000 after buying an additional 403 shares in the last quarter. Clearstead Advisors LLC raised its position in shares of HDFC Bank by 476.8% during the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after buying an additional 739 shares in the last quarter. Accent Capital Management LLC raised its position in shares of HDFC Bank by 100.0% during the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after buying an additional 459 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of HDFC Bank during the 2nd quarter valued at $75,000. Finally, Pin Oak Investment Advisors Inc. raised its position in shares of HDFC Bank by 100.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after buying an additional 498 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

HDFC Bank stock opened at $23.81 on Friday. The firm’s fifty day moving average price is $25.01 and its 200-day moving average price is $29.97. The stock has a market cap of $121.48 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.07 and a beta of 0.65. HDFC Bank Limited has a fifty-two week low of $22.91 and a fifty-two week high of $39.81.

Insider Buying and Selling at HDFC Bank

In related news, insider N Srinivasan sold 10,000 shares of the stock in a transaction 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 transaction, the insider owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ashish Parthasarthy sold 6,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the transaction, the insider directly owned 848,558 shares in the company, valued at approximately $7,586,108.52. This represents a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 31,600 shares of company stock worth $271,660. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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).