Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $14.14 Million Stake in HDFC Bank Limited (NYSE:HDB)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in HDFC Bank Limited (NYSE:HDB) by 26.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 220,154 shares of the bank’s stock after selling 80,881 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in HDFC Bank were worth $14,143,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Capital World Investors grew its position in shares of HDFC Bank by 208.6% during the 1st quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock worth $230,862,000 after buying an additional 2,788,197 shares during the period. Manning & Napier Advisors LLC bought a new stake in HDFC Bank during the 2nd quarter worth about $166,709,000. PineStone Asset Management Inc. boosted its position in HDFC Bank by 115.1% during the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock valued at $287,488,000 after purchasing an additional 2,391,343 shares during the last quarter. CCLA Investment Management boosted its holdings in shares of HDFC Bank by 100,691.5% in the 1st quarter. CCLA Investment Management now owns 1,748,733 shares of the bank’s stock valued at $97,534,000 after buying an additional 1,746,998 shares during the last quarter. Finally, Sustainable Growth Advisers LP grew its position in shares of HDFC Bank by 24.1% in the 1st quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock valued at $493,884,000 after acquiring an additional 1,711,784 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HDB. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th.

HDFC Bank Price Performance

Shares of HDB stock traded down $0.43 on Wednesday, reaching $64.20. The company had a trading volume of 136,248 shares, compared to its average volume of 3,038,212. The stock has a market capitalization of $119.41 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.65 and a beta of 0.92. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. The business’s 50-day moving average is $62.27 and its 200 day moving average is $60.52. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44.

HDFC Bank Company Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.