Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 3.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 212,058 shares of the bank's stock after selling 8,096 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in HDFC Bank were worth $12,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC increased its holdings in HDFC Bank by 13.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 97,086 shares of the bank's stock valued at $6,200,000 after buying an additional 11,255 shares during the last quarter. Platform Technology Partners increased its stake in shares of HDFC Bank by 7.5% in the 4th quarter. Platform Technology Partners now owns 7,443 shares of the bank's stock worth $475,000 after purchasing an additional 518 shares in the last quarter. Tobam raised its holdings in HDFC Bank by 2.2% in the 4th quarter. Tobam now owns 34,411 shares of the bank's stock worth $2,197,000 after purchasing an additional 729 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in HDFC Bank by 11.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,326,149 shares of the bank's stock valued at $84,688,000 after purchasing an additional 134,167 shares in the last quarter. Finally, Adero Partners LLC bought a new stake in HDFC Bank during the fourth quarter valued at about $223,000. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Price Performance

NYSE:HDB traded down $0.39 on Wednesday, reaching $60.29. 2,973,087 shares of the company's stock traded hands, compared to its average volume of 2,663,121. The stock has a 50-day simple moving average of $62.52 and a 200-day simple moving average of $62.41. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $68.50. The firm has a market cap of $152.67 billion, a PE ratio of 18.33, a P/E/G ratio of 1.70 and a beta of 0.91. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Equities research analysts forecast that HDFC Bank Limited will post 3.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

HDB has been the topic of several recent research reports. StockNews.com downgraded HDFC Bank from a "hold" rating to a "sell" rating in a research note on Wednesday, November 27th. Nomura upgraded shares of HDFC Bank from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Nomura Securities raised shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 23rd.

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.