HDFC Bank Limited $HDB Stock Position Increased by Canoe Financial LP

Canoe Financial LP grew its position in HDFC Bank Limited (NYSE:HDB) by 94.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 636,180 shares of the bank’s stock after purchasing an additional 309,790 shares during the period. Canoe Financial LP’s holdings in HDFC Bank were worth $21,732,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. New Vernon Capital Holdings II LLC acquired a new position in shares of HDFC Bank during the first quarter worth approximately $1,546,956,000. Royal Bank of Canada raised its stake in HDFC Bank by 53.5% during the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock valued at $745,107,000 after acquiring an additional 3,907,637 shares in the last quarter. Schroder Investment Management Group boosted its position in HDFC Bank by 19.0% during the 2nd quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock worth $813,830,000 after acquiring an additional 1,692,243 shares during the period. Temasek Holdings Private Ltd grew its stake in shares of HDFC Bank by 3.9% in the first quarter. Temasek Holdings Private Ltd now owns 8,895,662 shares of the bank’s stock worth $591,028,000 after purchasing an additional 337,874 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of HDFC Bank by 0.3% in the second quarter. Franklin Resources Inc. now owns 6,737,503 shares of the bank’s stock worth $516,564,000 after purchasing an additional 21,706 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB opened at $36.40 on Friday. The firm’s 50 day moving average is $36.24 and its 200-day moving average is $36.57. The stock has a market capitalization of $185.69 billion, a P/E ratio of 22.13, a P/E/G ratio of 1.64 and a beta of 0.58. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, beating the consensus estimate of $0.36 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. As a group, equities research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on HDB. Weiss Ratings restated a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday. Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, HDFC Bank has a consensus rating of “Moderate Buy”.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).