Bank of Montreal Can Buys 24,159 Shares of HDFC Bank Limited (NYSE:HDB)

Bank of Montreal Can boosted its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 44.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,026 shares of the bank's stock after purchasing an additional 24,159 shares during the quarter. Bank of Montreal Can's holdings in HDFC Bank were worth $5,085,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Commerce Bank raised its holdings in HDFC Bank by 7.0% in the 3rd quarter. Commerce Bank now owns 3,427 shares of the bank's stock valued at $214,000 after acquiring an additional 225 shares during the last quarter. UMB Bank n.a. increased its holdings in HDFC Bank by 5.4% in the 2nd quarter. UMB Bank n.a. now owns 4,831 shares of the bank's stock valued at $311,000 after purchasing an additional 248 shares in the last quarter. Mount Yale Investment Advisors LLC grew its stake in shares of HDFC Bank by 4.2% in the third quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank's stock valued at $399,000 after buying an additional 257 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of HDFC Bank by 70.2% in the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank's stock valued at $42,000 after buying an additional 275 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC grew its position in HDFC Bank by 1.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 25,576 shares of the bank's stock valued at $1,600,000 after acquiring an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Up 1.4 %

HDB traded up $0.96 during midday trading on Wednesday, hitting $67.66. 3,956,859 shares of the company's stock traded hands, compared to its average volume of 3,020,474. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.84. The stock's fifty day simple moving average is $63.39 and its 200-day simple moving average is $61.79. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $171.34 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.77 and a beta of 0.92.

HDFC Bank (NYSE:HDB - Get Free Report) last issued 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. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The company had revenue of $9.21 billion for the quarter, compared to analyst estimates of $4.84 billion. As a group, equities analysts anticipate that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered HDFC Bank from a "hold" rating to a "sell" rating in a 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.