Connor Clark & Lunn Investment Management Ltd. Buys 604,035 Shares of HDFC Bank Limited (NYSE:HDB)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 89.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,281,884 shares of the bank’s stock after buying an additional 604,035 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of HDFC Bank worth $81,861,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of HDB. Whipplewood Advisors LLC bought a new position in shares of HDFC Bank during the 4th quarter worth approximately $29,000. Pin Oak Investment Advisors Inc. boosted its holdings in shares of HDFC Bank by 104.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after buying an additional 254 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of HDFC Bank during the 4th quarter worth approximately $42,000. Kestra Investment Management LLC bought a new position in shares of HDFC Bank during the 4th quarter worth approximately $60,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of HDFC Bank during the 3rd quarter worth approximately $65,000. 17.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HDB has been the topic of a number of research analyst reports. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd.

HDFC Bank Price Performance

Shares of HDB opened at $60.44 on Thursday. HDFC Bank Limited has a 12-month low of $54.07 and a 12-month high of $68.50. The business’s fifty day moving average is $60.12 and its 200 day moving average is $62.42. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The stock has a market cap of $153.05 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.12 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last issued its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Sell-side analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

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.