Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 26.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.
Several other institutional investors have also recently added to or reduced their stakes in HDB. Norden Group LLC acquired a new position in HDFC Bank during the 1st quarter valued at approximately $511,000. Legacy Wealth Asset Management LLC boosted its stake in HDFC Bank by 24.4% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 35,003 shares of the bank's stock valued at $1,959,000 after purchasing an additional 6,857 shares during the period. Financial Perspectives Inc grew its position in HDFC Bank by 53.1% in the 1st quarter. Financial Perspectives Inc now owns 2,922 shares of the bank's stock worth $164,000 after purchasing an additional 1,013 shares during the last quarter. New Century Financial Group LLC acquired a new position in shares of HDFC Bank during the first quarter worth approximately $294,000. Finally, Baillie Gifford & Co. increased its holdings in shares of HDFC Bank by 16.9% during the first quarter. Baillie Gifford & Co. now owns 11,269,525 shares of the bank's stock valued at $630,755,000 after purchasing an additional 1,632,542 shares during the period. Institutional investors own 17.61% of the company's stock.
HDFC Bank Price Performance
HDFC Bank stock traded down $0.47 during mid-day trading on Wednesday, hitting $64.16. The company's stock had a trading volume of 1,132,411 shares, compared to its average volume of 3,042,956. The stock has a market capitalization of $119.33 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.65 and a beta of 0.92. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44. The stock's fifty day moving average price is $62.27 and its two-hundred day moving average price is $60.52. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. StockNews.com downgraded shares of HDFC Bank from a "hold" rating to a "sell" rating in a research report on Saturday, October 12th. JPMorgan Chase & Co. lowered HDFC Bank from an "overweight" rating to a "neutral" rating in a report on Monday, July 22nd.
Read Our Latest Analysis on HDFC Bank
HDFC Bank Profile
(
Free Report)
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.
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