HDFC Bank Limited (NYSE:HDB) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in HDFC Bank Limited (NYSE:HDB) by 4.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 257,516 shares of the bank’s stock after buying an additional 10,256 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in HDFC Bank were worth $16,110,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HDB. Vanguard Group Inc. lifted its position in shares of HDFC Bank by 10.9% in the first quarter. Vanguard Group Inc. now owns 122,023 shares of the bank’s stock valued at $6,830,000 after acquiring an additional 12,037 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of HDFC Bank during the first quarter worth $222,000. Cetera Advisors LLC acquired a new stake in shares of HDFC Bank in the first quarter valued at about $444,000. GAMMA Investing LLC lifted its stake in shares of HDFC Bank by 56.0% in the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after buying an additional 324 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in HDFC Bank by 24.9% during the 2nd quarter. Park Avenue Securities LLC now owns 16,582 shares of the bank’s stock valued at $1,067,000 after acquiring an additional 3,306 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

HDFC Bank Price Performance

NYSE:HDB opened at $66.76 on Monday. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.76. The stock’s fifty day moving average is $63.34 and its two-hundred day moving average is $61.61. The company has a market capitalization of $169.06 billion, a P/E ratio of 20.29, a P/E/G ratio of 1.77 and a beta of 0.91. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The company had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Equities analysts expect that HDFC Bank Limited will post 3.15 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.