Canoe Financial LP Boosts Holdings in HDFC Bank Limited (NYSE:HDB)

Canoe Financial LP lifted its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,190 shares of the bank's stock after acquiring an additional 50,792 shares during the period. Canoe Financial LP's holdings in HDFC Bank were worth $21,661,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. increased its position in shares of HDFC Bank by 104.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank's stock valued at $31,000 after buying an additional 254 shares during the period. Northwest Investment Counselors LLC bought a new stake in HDFC Bank during the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC lifted its stake in HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank's stock worth $42,000 after purchasing an additional 275 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in HDFC Bank in the 3rd quarter valued at $65,000. Finally, GAMMA Investing LLC boosted its holdings in HDFC Bank by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,215 shares of the bank's stock valued at $76,000 after purchasing an additional 312 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

Shares of HDB traded down $0.25 during trading hours on Friday, reaching $58.39. 1,797,510 shares of the company's stock traded hands, compared to its average volume of 2,000,910. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $68.50. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market cap of $147.87 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.67 and a beta of 0.92. The firm's 50 day simple moving average is $64.02 and its 200-day simple moving average is $62.54.

HDFC Bank (NYSE:HDB - Get Free Report) last announced 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. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. Equities analysts expect that HDFC Bank Limited will post 3.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded HDFC Bank from a "hold" rating to a "sell" rating in a research report on Wednesday, November 27th.

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.