Channing Global Advisors LLC Purchases 16,102 Shares of HDFC Bank Limited (NYSE:HDB)

Channing Global Advisors LLC lifted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 88.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,404 shares of the bank's stock after purchasing an additional 16,102 shares during the quarter. HDFC Bank comprises 1.8% of Channing Global Advisors LLC's investment portfolio, making the stock its 19th biggest holding. Channing Global Advisors LLC's holdings in HDFC Bank were worth $2,152,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its holdings in shares of HDFC Bank by 2.3% during the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank's stock valued at $741,932,000 after purchasing an additional 263,690 shares during the last quarter. FMR LLC raised its stake in HDFC Bank by 19.3% during the third quarter. FMR LLC now owns 6,878,824 shares of the bank's stock valued at $430,339,000 after buying an additional 1,114,210 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in HDFC Bank by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank's stock valued at $302,970,000 after buying an additional 51,736 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in HDFC Bank by 115.1% in the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank's stock worth $287,488,000 after acquiring an additional 2,391,343 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of HDFC Bank by 9.0% in the third quarter. Fisher Asset Management LLC now owns 3,955,982 shares of the bank's stock worth $247,486,000 after acquiring an additional 325,999 shares during the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Down 1.1 %

NYSE HDB traded down $0.74 during mid-day trading on Friday, reaching $66.76. The stock had a trading volume of 2,688,657 shares, compared to its average volume of 3,008,595. The stock has a market cap of $169.06 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.79 and a beta of 0.91. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.76. 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 fifty day moving average price of $63.34 and a 200 day moving average price of $61.57.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.09. The firm had revenue of $9.21 billion during the quarter, compared to analysts' expectations of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. On average, research analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of HDFC Bank from a "hold" rating to a "sell" rating in a research note on Wednesday.

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.