Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 21,564 Shares of HDFC Bank Limited $HDB

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its position in shares of HDFC Bank Limited (NYSE:HDB) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 361,642 shares of the bank’s stock after selling 21,564 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in HDFC Bank were worth $13,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Schroder Investment Management Group boosted its holdings in HDFC Bank by 137.6% in the 3rd quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock valued at $861,554,000 after purchasing an additional 14,606,422 shares during the period. JPMorgan Chase & Co. raised its position in shares of HDFC Bank by 104.4% in the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after buying an additional 9,808,890 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in HDFC Bank by 9,866.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock valued at $271,381,000 after buying an additional 7,864,692 shares during the period. Franklin Resources Inc. boosted its stake in HDFC Bank by 106.1% during the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock valued at $474,310,000 after buying an additional 7,147,440 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in HDFC Bank by 150.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock worth $396,312,000 after buying an additional 6,963,646 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Down 1.3%

NYSE HDB opened at $26.12 on Thursday. The stock’s 50-day simple moving average is $28.37 and its two-hundred day simple moving average is $32.80. HDFC Bank Limited has a twelve month low of $23.91 and a twelve month high of $39.81. The company has a market capitalization of $133.23 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.23 and a beta of 0.67.

Insider Activity

In related news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $8.21, for a total value of $82,100.00. Following the completion of the sale, the insider owned 648,422 shares in the company, valued at $5,323,544.62. The trade was a 1.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ashish Parthasarthy sold 6,000 shares of the stock in a transaction that occurred 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 owned 848,558 shares in the company, valued at $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on HDB. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, HDFC Bank currently has a consensus rating of “Reduce”.

HDFC Bank Company Profile

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).