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

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in shares of HDFC Bank Limited (NYSE:HDB) by 26.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,154 shares of the bank’s stock after selling 80,881 shares during the period. 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 hedge funds have also recently added to or reduced their stakes in the business. Ridgewood Investments LLC bought a new stake in HDFC Bank in the 2nd quarter valued at $36,000. Northwest Investment Counselors LLC bought a new stake in shares of HDFC Bank in the third quarter valued at about $38,000. LRI Investments LLC acquired a new stake in HDFC Bank during the first quarter worth about $56,000. GAMMA Investing LLC increased its stake in HDFC Bank by 56.0% during the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after acquiring an additional 324 shares during the period. Finally, Boit C F David acquired a new position in HDFC Bank in the 2nd quarter valued at approximately $100,000. Institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

HDB has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered 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 report on Saturday, October 12th.

HDFC Bank Price Performance

NYSE HDB traded down $0.43 during trading on Wednesday, reaching $64.20. 136,248 shares of the company traded hands, compared to its average volume of 3,038,212. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $67.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. The stock’s 50 day moving average price is $62.27 and its two-hundred day moving average price is $60.52. The company has a market cap of $119.41 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 1.65 and a beta of 0.92.

HDFC Bank 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.