Connor Clark & Lunn Investment Management Ltd. Purchases 576,743 Shares of HDFC Bank Limited (NYSE:HDB)

Connor Clark & Lunn Investment Management Ltd. lifted its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 570.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 677,849 shares of the bank's stock after purchasing an additional 576,743 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in HDFC Bank were worth $42,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HDB. Vanguard Group Inc. boosted its holdings in HDFC Bank by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 122,023 shares of the bank's stock valued at $6,830,000 after purchasing an additional 12,037 shares during the period. Advisors Asset Management Inc. grew its position in HDFC Bank by 34.5% during the first quarter. Advisors Asset Management Inc. now owns 24,400 shares of the bank's stock valued at $1,366,000 after acquiring an additional 6,261 shares during the last quarter. Stamos Capital Partners L.P. increased its position in HDFC Bank by 192.7% during the 1st quarter. Stamos Capital Partners L.P. now owns 22,190 shares of the bank's stock valued at $1,242,000 after purchasing an additional 14,610 shares during the period. Toronto Dominion Bank grew its stake in shares of HDFC Bank by 10.8% in the 1st quarter. Toronto Dominion Bank now owns 3,328 shares of the bank's stock worth $186,000 after buying an additional 325 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of HDFC Bank by 208.6% in the first quarter. Capital World Investors now owns 4,124,751 shares of the bank's stock worth $230,862,000 after acquiring an additional 2,788,197 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

HDB traded up $0.17 during trading on Wednesday, hitting $63.32. The stock had a trading volume of 1,883,098 shares, compared to its average volume of 2,973,841. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $160.35 billion, a P/E ratio of 19.20, a PEG ratio of 1.62 and a beta of 0.91. The company's 50-day moving average price is $62.92 and its 200 day moving average price is $61.06. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The firm had revenue of $9.21 billion for the quarter, compared to analysts' expectations of $4.84 billion. On average, equities research analysts forecast that HDFC Bank Limited will post 3.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Friday, November 8th.

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.