CIBC Asset Management Inc Increases Stake in HDFC Bank Limited (NYSE:HDB)

CIBC Asset Management Inc grew its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 40.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,716 shares of the bank's stock after buying an additional 71,837 shares during the quarter. CIBC Asset Management Inc's holdings in HDFC Bank were worth $15,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC lifted its holdings in HDFC Bank by 2,567.2% in the third quarter. CWM LLC now owns 3,094 shares of the bank's stock valued at $194,000 after acquiring an additional 2,978 shares during the period. Creative Planning lifted its stake in shares of HDFC Bank by 26.0% in the 3rd quarter. Creative Planning now owns 130,768 shares of the bank's stock worth $8,181,000 after purchasing an additional 26,983 shares during the period. Raymond James & Associates lifted its stake in shares of HDFC Bank by 2.7% in the 3rd quarter. Raymond James & Associates now owns 588,382 shares of the bank's stock worth $36,809,000 after purchasing an additional 15,238 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of HDFC Bank in the third quarter worth approximately $38,000. Finally, Sequoia Financial Advisors LLC bought a new stake in HDFC Bank during the third quarter valued at approximately $1,049,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

NYSE HDB traded down $0.12 on Friday, reaching $59.46. 2,124,666 shares of the stock were exchanged, compared to its average volume of 2,660,034. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a one year low of $53.00 and a one year high of $68.50. The firm has a market capitalization of $150.56 billion, a PE ratio of 18.07, a PEG ratio of 2.17 and a beta of 0.91. The company's 50-day simple moving average is $61.36 and its two-hundred day simple moving average is $62.40.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HDB. Nomura Securities upgraded shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. Nomura raised HDFC Bank from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, 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.