Mackenzie Financial Corp Has $59.49 Million Stake in HDFC Bank Limited (NYSE:HDB)

Mackenzie Financial Corp raised its stake in shares of HDFC Bank Limited (NYSE:HDB) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 924,809 shares of the bank’s stock after purchasing an additional 1,827 shares during the period. Mackenzie Financial Corp’s holdings in HDFC Bank were worth $59,493,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. UMB Bank n.a. raised its position in shares of HDFC Bank by 5.4% during the second quarter. UMB Bank n.a. now owns 4,831 shares of the bank’s stock worth $311,000 after acquiring an additional 248 shares during the last quarter. Endowment Wealth Management Inc. raised its stake in HDFC Bank by 6.5% during the first quarter. Endowment Wealth Management Inc. now owns 4,438 shares of the bank’s stock worth $248,000 after buying an additional 272 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in HDFC Bank by 5.6% in the second quarter. Mount Yale Investment Advisors LLC now owns 6,114 shares of the bank’s stock valued at $393,000 after buying an additional 322 shares during the period. GAMMA Investing LLC boosted its position in HDFC Bank by 56.0% during the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after acquiring an additional 324 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of 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 acquiring an additional 325 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Trading Down 2.2 %

HDB opened at $64.35 on Friday. The company has a fifty day moving average price of $61.33 and a two-hundred day moving average price of $59.63. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $67.44. The company has a market cap of $119.69 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 1.76 and a beta of 0.92. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37.

HDFC Bank (NYSE:HDB) last issued its earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion during the quarter, compared to analyst estimates of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. Analysts predict that HDFC Bank Limited will post 2.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on HDB. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

HDFC Bank 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.