HDFC Bank Limited (NYSE:HDB) Shares Bought by Channing Global Advisors LLC

Channing Global Advisors LLC lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 88.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,404 shares of the bank’s stock after acquiring an additional 16,102 shares during the quarter. HDFC Bank accounts for about 1.8% of Channing Global Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Channing Global Advisors LLC’s holdings in HDFC Bank were worth $2,152,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Glenmede Trust Co. NA increased its holdings in HDFC Bank by 3.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock worth $301,000 after purchasing an additional 167 shares during the last quarter. Commerce Bank grew its position in shares of HDFC Bank by 7.0% during the third quarter. Commerce Bank now owns 3,427 shares of the bank’s stock worth $214,000 after buying an additional 225 shares in the last quarter. UMB Bank n.a. increased its stake in shares of 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 last quarter. Pin Oak Investment Advisors Inc. raised its holdings in HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after acquiring an additional 254 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its stake in HDFC Bank by 4.2% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank’s stock valued at $399,000 after acquiring an additional 257 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

HDFC Bank Trading Up 1.3 %

Shares of NYSE HDB opened at $67.50 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock’s 50 day moving average price is $63.32 and its two-hundred day moving average price is $61.45. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.76. The stock has a market capitalization of $170.93 billion, a P/E ratio of 20.52, a PEG ratio of 1.79 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The business had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. On average, analysts anticipate that HDFC Bank Limited will post 3.15 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.