Franklin Resources Inc. Grows Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Franklin Resources Inc. boosted its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 9.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,803,828 shares of the bank's stock after buying an additional 560,880 shares during the quarter. Franklin Resources Inc. owned approximately 0.27% of HDFC Bank worth $420,477,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Peapack Gladstone Financial Corp purchased a new stake in shares of HDFC Bank during the third quarter worth about $353,000. Synovus Financial Corp boosted its position in HDFC Bank by 0.8% during the third quarter. Synovus Financial Corp now owns 89,591 shares of the bank's stock worth $5,605,000 after acquiring an additional 711 shares during the last quarter. Sanctuary Advisors LLC grew its stake in HDFC Bank by 9.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,557 shares of the bank's stock worth $1,971,000 after acquiring an additional 2,536 shares during the period. Virtu Financial LLC acquired a new position in HDFC Bank in the 3rd quarter valued at $985,000. Finally, Rehmann Capital Advisory Group lifted its stake in shares of HDFC Bank by 15.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 15,599 shares of the bank's stock worth $978,000 after purchasing an additional 2,048 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

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 Trading Up 0.6 %

Shares of NYSE HDB traded up $0.38 on Friday, reaching $67.00. 2,005,780 shares of the company traded hands, compared to its average volume of 3,002,899. The stock has a market capitalization of $169.66 billion, a PE ratio of 20.36, a P/E/G ratio of 1.79 and a beta of 0.92. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week 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 company has a 50 day moving average of $64.05 and a 200 day moving average of $62.27.

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

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.