Connor Clark & Lunn Investment Management Ltd. Buys 576,743 Shares of HDFC Bank Limited (NYSE:HDB)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 570.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 677,849 shares of the bank’s stock after buying an additional 576,743 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in HDFC Bank were worth $42,406,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of HDFC Bank by 13.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock worth $15,114,000 after purchasing an additional 28,500 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of HDFC Bank in the second quarter valued at $166,709,000. US Bancorp DE lifted its position 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 valued at $8,750,000 after buying an additional 38,571 shares during the last quarter. Deprince Race & Zollo Inc. grew its stake in shares of HDFC Bank by 56.3% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock worth $8,981,000 after acquiring an additional 50,301 shares during the period. Finally, LRI Investments LLC bought a new position in shares of HDFC Bank during the 1st quarter worth $125,000. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 1.4 %

HDFC Bank stock opened at $63.17 on Wednesday. The firm has a 50 day simple moving average of $62.92 and a 200 day simple moving average of $61.06. The company has a current ratio of 0.53, a quick 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 $67.44. The firm has a market capitalization of $159.97 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 1.62 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The firm had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. On average, analysts predict that HDFC Bank Limited will post 3.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, November 8th.

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.