The Manufacturers Life Insurance Company Raises Stake in HDFC Bank Limited (NYSE:HDB)

The Manufacturers Life Insurance Company raised its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 4.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 257,516 shares of the bank's stock after purchasing an additional 10,256 shares during the period. The Manufacturers Life Insurance Company's holdings in HDFC Bank were worth $16,110,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HDB. Manning & Napier Advisors LLC bought a new stake in shares of HDFC Bank in the 2nd quarter valued at $166,709,000. PineStone Asset Management Inc. increased its stake in HDFC Bank by 115.1% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank's stock valued at $287,488,000 after purchasing an additional 2,391,343 shares in the last quarter. TPG GP A LLC bought a new stake in HDFC Bank during the 2nd quarter valued at $95,637,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in HDFC Bank by 130.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,185,500 shares of the bank's stock valued at $140,593,000 after purchasing an additional 1,236,100 shares in the last quarter. Finally, Eminence Capital LP bought a new stake in HDFC Bank during the 2nd quarter valued at $68,340,000. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Stock Down 0.2 %

HDB traded down $0.16 during mid-day trading on Monday, reaching $66.60. 1,037,225 shares of the stock were exchanged, compared to its average volume of 2,999,846. 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 stock has a market capitalization of $168.65 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. The company has a 50 day moving average price of $63.34 and a two-hundred day moving average price of $61.61. 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 for the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. As a group, research analysts anticipate that HDFC Bank Limited will post 3.15 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of HDFC Bank from a "hold" rating to a "sell" rating in a research note 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.