HDFC Bank Limited $HDB Shares Acquired by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

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, Holdings Channel reports. The firm owned 383,206 shares of the bank’s stock after acquiring an additional 190,249 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in HDFC Bank were worth $13,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC lifted its holdings in shares of HDFC Bank by 8.6% during the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after purchasing an additional 922 shares during the period. Goldman Sachs Group Inc. raised its position 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 buying an additional 13,435 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in HDFC Bank during the 2nd quarter valued at approximately $29,000. Roxbury Financial LLC purchased a new stake in shares of HDFC Bank in the 2nd quarter valued at $30,000. Finally, Aaron Wealth Advisors LLC increased its stake 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 acquiring an additional 2,793 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HDB. Wall Street Zen downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday, December 29th. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, HDFC Bank has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Down 0.9%

HDB stock opened at $33.11 on Monday. HDFC Bank Limited has a 52 week low of $28.89 and a 52 week high of $39.81. The firm has a 50-day simple moving average of $35.88 and a 200-day simple moving average of $36.37. The stock has a market capitalization of $168.88 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.33 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data 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. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $4.98 billion. On average, analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

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).