Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Buys 190,249 Shares of HDFC Bank Limited $HDB

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 98.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 383,206 shares of the bank’s stock after purchasing an additional 190,249 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in HDFC Bank were worth $13,972,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC lifted its position in shares of HDFC Bank by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after buying an additional 922 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in HDFC Bank by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after acquiring an additional 13,435 shares during the period. Central Pacific Bank Trust Division purchased a new position in HDFC Bank during the second quarter valued at approximately $29,000. Roxbury Financial LLC bought a new position in shares of HDFC Bank in the second quarter worth approximately $30,000. Finally, Aaron Wealth Advisors LLC boosted its position in shares of HDFC Bank by 34.6% in the second quarter. Aaron Wealth Advisors LLC now owns 10,866 shares of the bank’s stock worth $833,000 after purchasing an additional 2,793 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB opened at $33.11 on Monday. The firm has a market capitalization of $168.88 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.33 and a beta of 0.57. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The company has a 50-day moving average of $35.88 and a 200 day moving average of $36.37.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.08. The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. On average, equities analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on HDB shares. Weiss Ratings restated a “hold (c-)” rating on shares of HDFC Bank in a research report on Monday, December 29th. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Wall Street Zen downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, HDFC Bank currently has a consensus rating of “Moderate Buy”.

About HDFC Bank

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).