HDFC Bank Limited (NYSE:HDB) Shares Sold by D.B. Root & Company LLC

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in HDFC Bank during the 2nd quarter worth about $36,000. Northwest Investment Counselors LLC purchased a new stake in HDFC Bank during the 3rd quarter worth about $38,000. JFS Wealth Advisors LLC increased its position in HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after purchasing an additional 275 shares in the last quarter. GAMMA Investing LLC increased its position in HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after purchasing an additional 324 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in HDFC Bank during the 1st quarter worth about $56,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 0.3 %

HDB opened at $64.46 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $163.23 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.64 and a beta of 0.91. The business has a 50-day moving average of $62.61 and a two-hundred day moving average of $60.76. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $67.44.

Wall Street Analysts Forecast Growth

HDB has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, October 12th.

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.