Canoe Financial LP Has $21.66 Million Position in HDFC Bank Limited (NYSE:HDB)

Canoe Financial LP raised its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 17.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 339,190 shares of the bank’s stock after acquiring an additional 50,792 shares during the quarter. Canoe Financial LP’s holdings in HDFC Bank were worth $21,661,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HDB. Pin Oak Investment Advisors Inc. raised its position in shares of HDFC Bank by 104.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after acquiring an additional 254 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of HDFC Bank during the third quarter worth $38,000. JFS Wealth Advisors LLC increased its holdings in HDFC Bank by 70.2% in the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in HDFC Bank in the third quarter valued at about $65,000. Finally, GAMMA Investing LLC boosted its holdings in HDFC Bank by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock worth $76,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.4 %

HDB opened at $58.39 on Friday. The firm’s fifty day moving average is $64.13 and its two-hundred day moving average is $62.61. The firm has a market cap of $147.87 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.67 and a beta of 0.92. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $68.50. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.76 by $0.09. The business had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. Equities research analysts anticipate that HDFC Bank Limited will post 3.13 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

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.