Manning & Napier Advisors LLC Sells 206,029 Shares of HDFC Bank Limited (NYSE:HDB)

Manning & Napier Advisors LLC reduced its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,331,128 shares of the bank's stock after selling 206,029 shares during the period. HDFC Bank comprises about 1.7% of Manning & Napier Advisors LLC's holdings, making the stock its 16th largest holding. Manning & Napier Advisors LLC owned approximately 0.09% of HDFC Bank worth $148,866,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HDB. Dimensional Fund Advisors LP increased its stake in shares of HDFC Bank by 612.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 243,980 shares of the bank's stock worth $15,695,000 after purchasing an additional 209,726 shares during the last quarter. Creative Planning raised its position in shares of HDFC Bank by 82.8% in the second quarter. Creative Planning now owns 103,785 shares of the bank's stock valued at $6,676,000 after purchasing an additional 47,005 shares during the period. Brandes Investment Partners LP lifted its position in HDFC Bank by 11.4% during the 2nd quarter. Brandes Investment Partners LP now owns 54,527 shares of the bank's stock worth $3,520,000 after acquiring an additional 5,572 shares during the last quarter. Cetera Investment Advisers grew its holdings in HDFC Bank by 2.4% in the 2nd quarter. Cetera Investment Advisers now owns 14,979 shares of the bank's stock valued at $964,000 after buying an additional 358 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in HDFC Bank by 141.2% during the second quarter. Clearbridge Investments LLC now owns 1,457,755 shares of the bank's stock worth $93,777,000 after acquiring an additional 853,287 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on HDB shares. StockNews.com cut HDFC Bank from a "hold" rating to a "sell" rating in a research report on Wednesday, November 27th. Nomura Securities upgraded shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. Finally, Nomura raised HDFC Bank from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd.

HDFC Bank Price Performance

NYSE:HDB traded up $1.07 on Thursday, reaching $60.64. The stock had a trading volume of 1,415,817 shares, compared to its average volume of 2,959,812. The company has a market capitalization of $153.55 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.92. The stock has a fifty day moving average price of $63.49 and a 200-day moving average price of $62.36. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $68.50.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 11.78%. Research analysts forecast that HDFC Bank Limited will post 3.13 EPS for the current 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.