Bank Pictet & Cie Europe AG Sells 17,784 Shares of HDFC Bank Limited (NYSE:HDB)

Bank Pictet & Cie Europe AG cut its holdings in HDFC Bank Limited (NYSE:HDB) by 83.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,535 shares of the bank’s stock after selling 17,784 shares during the period. Bank Pictet & Cie Europe AG’s holdings in HDFC Bank were worth $221,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HDB. UMB Bank n.a. lifted its holdings in HDFC Bank by 5.4% in the second quarter. UMB Bank n.a. now owns 4,831 shares of the bank’s stock worth $311,000 after buying an additional 248 shares during the period. Endowment Wealth Management Inc. increased its position in shares of HDFC Bank by 6.5% during the first quarter. Endowment Wealth Management Inc. now owns 4,438 shares of the bank’s stock valued at $248,000 after acquiring an additional 272 shares in the last quarter. GAMMA Investing LLC increased its position in shares of HDFC Bank by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock valued at $76,000 after acquiring an additional 312 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in HDFC Bank by 5.6% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 6,114 shares of the bank’s stock worth $393,000 after purchasing an additional 322 shares during the period. Finally, Toronto Dominion Bank grew its position in HDFC Bank by 10.8% in the 1st quarter. Toronto Dominion Bank now owns 3,328 shares of the bank’s stock worth $186,000 after purchasing an additional 325 shares during the period. 17.61% of the stock is owned by institutional investors.

HDFC Bank Price Performance

Shares of HDB stock opened at $64.19 on Thursday. 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 company has a market capitalization 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 company’s 50-day simple moving average is $61.94 and its two-hundred day simple moving average is $60.34. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44.

Wall Street Analyst Weigh In

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

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.