Connor Clark & Lunn Investment Management Ltd. Grows Position in HDFC Bank Limited (NYSE:HDB)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in HDFC Bank Limited (NYSE:HDB) by 89.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,281,884 shares of the bank’s stock after buying an additional 604,035 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in HDFC Bank were worth $81,861,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HDB. Egerton Capital UK LLP purchased a new stake in shares of HDFC Bank during the 4th quarter valued at $72,833,000. Farther Finance Advisors LLC increased its position in shares of HDFC Bank by 13.9% during the 4th quarter. Farther Finance Advisors LLC now owns 3,328 shares of the bank’s stock valued at $213,000 after purchasing an additional 407 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of HDFC Bank by 73.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 29,046 shares of the bank’s stock valued at $1,855,000 after purchasing an additional 12,271 shares during the last quarter. HighTower Advisors LLC increased its position in shares of HDFC Bank by 4.4% during the 4th quarter. HighTower Advisors LLC now owns 229,855 shares of the bank’s stock valued at $14,679,000 after purchasing an additional 9,706 shares during the last quarter. Finally, Natural Investments LLC purchased a new stake in shares of HDFC Bank during the 4th quarter valued at $1,229,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HDB shares. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Trading Up 1.0 %

Shares of HDB opened at $60.44 on Thursday. The business has a 50-day moving average of $60.12 and a 200 day moving average of $62.42. HDFC Bank Limited has a fifty-two week low of $54.07 and a fifty-two week high of $68.50. The firm has a market cap of $153.05 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. As a group, research analysts forecast that HDFC Bank Limited will post 3.03 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.