Northwest & Ethical Investments L.P. Grows Stake in HDFC Bank Limited (NYSE:HDB)

Northwest & Ethical Investments L.P. boosted its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 42.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,100 shares of the bank's stock after acquiring an additional 10,127 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in HDFC Bank were worth $2,133,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in HDB. Citigroup Inc. grew its holdings in shares of HDFC Bank by 21.1% in the third quarter. Citigroup Inc. now owns 1,143,853 shares of the bank's stock valued at $71,559,000 after acquiring an additional 199,582 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in HDFC Bank by 13.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank's stock valued at $15,114,000 after purchasing an additional 28,500 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of HDFC Bank during the 2nd quarter valued at $166,709,000. US Bancorp DE raised its stake in shares of HDFC Bank by 38.1% during the 3rd quarter. US Bancorp DE now owns 139,865 shares of the bank's stock worth $8,750,000 after purchasing an additional 38,571 shares during the period. Finally, Comgest Global Investors S.A.S. boosted its holdings in shares of HDFC Bank by 202.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 432,835 shares of the bank's stock worth $27,078,000 after buying an additional 289,781 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Price Performance

HDB stock traded down $0.74 during midday trading on Friday, reaching $66.76. The company had a trading volume of 2,688,657 shares, compared to its average volume of 3,008,595. The firm has a 50-day moving average price of $63.34 and a 200-day moving average price of $61.53. 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 market capitalization of $169.06 billion, a P/E ratio of 20.30, a P/E/G 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.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 anticipate that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.