D.B. Root & Company LLC Lowers Holdings in HDFC Bank Limited (NYSE:HDB)

D.B. Root & Company LLC trimmed its position in HDFC Bank Limited (NYSE:HDB) by 18.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,499 shares of the bank’s stock after selling 1,443 shares during the period. D.B. Root & Company LLC’s holdings in HDFC Bank were worth $407,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HDB. Norden Group LLC purchased a new position in HDFC Bank in the 1st quarter valued at $511,000. Daiwa Securities Group Inc. lifted its holdings in HDFC Bank by 76.0% in the first quarter. Daiwa Securities Group Inc. now owns 3,563 shares of the bank’s stock valued at $199,000 after acquiring an additional 1,538 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in HDFC Bank in the first quarter valued at $727,000. Signaturefd LLC lifted its holdings in HDFC Bank by 2,661.0% in the first quarter. Signaturefd LLC now owns 18,913 shares of the bank’s stock valued at $1,059,000 after acquiring an additional 18,228 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in HDFC Bank by 29.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 28,903 shares of the bank’s stock valued at $1,618,000 after acquiring an additional 6,499 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HDB shares. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, October 12th. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

HDFC Bank Trading Up 0.3 %

NYSE:HDB opened at $64.46 on Thursday. The company has a market capitalization of $163.23 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.64 and a beta of 0.91. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. The stock has a fifty day simple moving average of $62.61 and a 200-day simple moving average of $60.76.

About HDFC Bank

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.