Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 37.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,387 shares of the bank's stock after selling 232,805 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in HDFC Bank were worth $22,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HDB. Baillie Gifford & Co. increased its stake in HDFC Bank by 183.8% in the third quarter. Baillie Gifford & Co. now owns 9,560,478 shares of the bank's stock worth $564,164,000 after purchasing an additional 6,191,548 shares during the period. Royal London Asset Management Ltd. grew its position in shares of HDFC Bank by 234.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank's stock worth $448,970,000 after buying an additional 4,687,487 shares in the last quarter. Harding Loevner LP grew its position in shares of HDFC Bank by 31.7% during the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank's stock worth $621,646,000 after buying an additional 2,276,203 shares in the last quarter. Brown Advisory Inc. grew its position in shares of HDFC Bank by 82.9% during the 4th quarter. Brown Advisory Inc. now owns 4,589,266 shares of the bank's stock worth $307,986,000 after buying an additional 2,079,942 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC grew its position in shares of HDFC Bank by 832.6% during the 4th quarter. Hardman Johnston Global Advisors LLC now owns 2,032,170 shares of the bank's stock worth $136,379,000 after buying an additional 1,814,263 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 1.3 %

HDFC Bank stock traded up $0.73 during midday trading on Thursday, reaching $58.87. The company's stock had a trading volume of 1,754,418 shares, compared to its average volume of 3,477,110. The stock's 50-day simple moving average is $56.51 and its 200-day simple moving average is $58.55. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.40 and a quick ratio of 0.52. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $71.39. The stock has a market capitalization of $109.49 billion, a P/E ratio of 18.06, a PEG ratio of 1.08 and a beta of 0.85.

HDFC Bank Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Thursday, May 9th will be paid a $0.7008 dividend. This represents a dividend yield of 1%. This is a boost from HDFC Bank's previous annual dividend of $0.59. The ex-dividend date is Wednesday, May 8th. HDFC Bank's dividend payout ratio (DPR) is presently 17.79%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded HDFC Bank from a "hold" rating to a "sell" rating in a research report on Monday, April 22nd.

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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