Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 14,762 Shares of HDFC Bank Limited (NYSE:HDB)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 197,296 shares of the bank's stock after selling 14,762 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in HDFC Bank were worth $14,263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northern Trust Corp increased its position in HDFC Bank by 52.0% during the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock valued at $64,855,000 after purchasing an additional 347,488 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of HDFC Bank during the fourth quarter valued at approximately $580,000. US Bancorp DE increased its holdings in HDFC Bank by 12.7% during the fourth quarter. US Bancorp DE now owns 157,665 shares of the bank's stock valued at $10,068,000 after buying an additional 17,800 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in HDFC Bank in the fourth quarter worth approximately $2,907,000. Finally, Ovata Capital Management Ltd lifted its holdings in HDFC Bank by 89.7% during the fourth quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock worth $43,863,000 after buying an additional 326,400 shares during the period. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

HDB opened at $77.05 on Friday. The firm has a market capitalization of $195.11 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.07 and a quick ratio of 0.09. The business's 50-day moving average is $73.89 and its two-hundred day moving average is $66.49. HDFC Bank Limited has a 1 year low of $57.24 and a 1 year high of $78.14.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. The business had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $434.68 billion. HDFC Bank had a net margin of 15.02% and a return on equity of 13.85%. Research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th.

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.

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