Whittier Trust Co. of Nevada Inc. Sells 2,374 Shares of HDFC Bank Limited (NYSE:HDB)

Whittier Trust Co. of Nevada Inc. decreased its position in HDFC Bank Limited (NYSE:HDB) by 40.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,467 shares of the bank’s stock after selling 2,374 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in HDFC Bank were worth $217,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its position in shares of HDFC Bank by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after acquiring an additional 263,690 shares during the last quarter. Sustainable Growth Advisers LP increased its holdings in HDFC Bank by 24.1% in the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock valued at $493,884,000 after purchasing an additional 1,711,784 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in HDFC Bank by 11.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank’s stock valued at $308,214,000 after buying an additional 486,653 shares during the period. PineStone Asset Management Inc. grew its position in shares of HDFC Bank by 115.1% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after buying an additional 2,391,343 shares during the period. Finally, Capital World Investors increased its stake in shares of HDFC Bank by 208.6% in the 1st quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after acquiring an additional 2,788,197 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, October 12th. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

HDFC Bank Trading Up 1.7 %

NYSE HDB opened at $64.19 on Thursday. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $119.38 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.95 and a beta of 0.92. The stock’s 50-day moving average is $61.94 and its 200-day moving average is $60.34.

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.