The Manufacturers Life Insurance Company Grows Position in HDFC Bank Limited (NYSE:HDB)

The Manufacturers Life Insurance Company raised its stake in shares of HDFC Bank Limited (NYSE:HDB) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 257,516 shares of the bank’s stock after purchasing an additional 10,256 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in HDFC Bank were worth $16,110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HDB. Vanguard Group Inc. raised its stake in shares of HDFC Bank by 10.9% in the first quarter. Vanguard Group Inc. now owns 122,023 shares of the bank’s stock worth $6,830,000 after purchasing an additional 12,037 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in HDFC Bank during the 1st quarter valued at approximately $222,000. Cetera Advisors LLC purchased a new stake in shares of HDFC Bank in the 1st quarter valued at $444,000. GAMMA Investing LLC increased its stake in shares of HDFC Bank by 56.0% in the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after acquiring an additional 324 shares during the period. Finally, Park Avenue Securities LLC raised its holdings in shares of HDFC Bank by 24.9% during the second quarter. Park Avenue Securities LLC now owns 16,582 shares of the bank’s stock worth $1,067,000 after purchasing an additional 3,306 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Trading Down 1.1 %

Shares of NYSE:HDB opened at $66.76 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.76. The business has a 50 day moving average of $63.34 and a two-hundred day moving average of $61.61. The company has a market capitalization of $169.06 billion, a PE ratio of 20.29, a PEG ratio of 1.77 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.09. The firm had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. As a group, analysts forecast that HDFC Bank Limited will post 3.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

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.