Connor Clark & Lunn Investment Management Ltd. Increases Holdings in HDFC Bank Limited $HDB

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,365,039 shares of the bank’s stock after buying an additional 46,509 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of HDFC Bank worth $104,658,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HDB. Central Pacific Bank Trust Division acquired a new position in shares of HDFC Bank during the 2nd quarter valued at about $29,000. Roxbury Financial LLC acquired a new stake in HDFC Bank during the second quarter worth about $30,000. Larson Financial Group LLC raised its stake in HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after purchasing an additional 426 shares during the period. Whipplewood Advisors LLC raised its stake in HDFC Bank by 112.0% during the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after purchasing an additional 290 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its holdings in HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock valued at $41,000 after purchasing an additional 507 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 0.4%

Shares of NYSE HDB opened at $35.83 on Friday. The business’s 50 day moving average is $35.45 and its two-hundred day moving average is $36.70. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81. The firm has a market cap of $182.80 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.92 and a beta of 0.69.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.98 billion. Analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HDB. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, HDFC Bank has an average rating of “Moderate Buy”.

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.