Connor Clark & Lunn Investment Management Ltd. Has $42.41 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

Connor Clark & Lunn Investment Management Ltd. raised its position in HDFC Bank Limited (NYSE:HDB) by 570.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 677,849 shares of the bank’s stock after acquiring an additional 576,743 shares during the period. 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.

Several other hedge funds and other institutional investors have also recently modified their holdings of HDB. Baillie Gifford & Co. grew its position in HDFC Bank by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after purchasing an additional 263,690 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in HDFC Bank by 11.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank’s stock valued at $308,214,000 after purchasing an additional 486,653 shares during the last quarter. PineStone Asset Management Inc. increased its holdings 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 worth $287,488,000 after purchasing an additional 2,391,343 shares in the last quarter. Capital World Investors raised its stake in shares of HDFC Bank by 208.6% in the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock worth $230,862,000 after purchasing an additional 2,788,197 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of HDFC Bank by 18.1% in the second quarter. Millennium Management LLC now owns 2,864,145 shares of the bank’s stock valued at $184,250,000 after purchasing an additional 438,750 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 1.4 %

HDB opened at $63.17 on Wednesday. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $67.44. The firm has a market capitalization of $159.97 billion, a P/E ratio of 19.20, a PEG ratio of 1.62 and a beta of 0.91. The company’s 50-day moving average is $62.92 and its 200 day moving average is $61.06. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53.

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

Analysts Set New Price Targets

Separately, StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a research 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.