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

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 5.6% in the 4th quarter, HoldingsChannel.com reports. 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 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of HDB. NewEdge Advisors LLC boosted its holdings in 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 acquiring an additional 922 shares during the period. Goldman Sachs Group Inc. increased its stake in HDFC Bank by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after purchasing an additional 13,435 shares during the period. Sivia Capital Partners LLC increased its stake in shares of HDFC Bank by 24.5% in the second quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after buying an additional 1,541 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of HDFC Bank by 464.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after buying an additional 1,221 shares during the period. Finally, First Trust Advisors LP raised its holdings in HDFC Bank by 29.3% during the 2nd quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock valued at $3,952,000 after buying an additional 11,689 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

HDFC Bank Stock Down 1.3%

Shares of HDB stock opened at $26.12 on Thursday. The firm 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. The stock has a fifty day moving average of $28.37 and a 200 day moving average of $32.80. HDFC Bank Limited has a 52 week low of $23.91 and a 52 week high of $39.81.

Insider Activity

In related news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $8.21, for a total transaction of $82,100.00. Following the transaction, the insider owned 648,422 shares in the company, valued at $5,323,544.62. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ashish Parthasarthy sold 6,000 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the transaction, the insider directly owned 848,558 shares of the company’s stock, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.00% of the company’s stock.

HDFC Bank 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).