Advisors Asset Management Inc. Purchases 5,066 Shares of HDFC Bank Limited (NYSE:HDB)

Advisors Asset Management Inc. grew its position in HDFC Bank Limited (NYSE:HDB) by 19.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,470 shares of the bank’s stock after buying an additional 5,066 shares during the quarter. Advisors Asset Management Inc.’s holdings in HDFC Bank were worth $1,906,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. grew its holdings in 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 acquiring an additional 28,500 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of HDFC Bank during the second quarter valued at approximately $166,709,000. US Bancorp DE increased its holdings in HDFC Bank by 38.1% during the third 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 period. Deprince Race & Zollo Inc. raised its stake in HDFC Bank by 56.3% in the second quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock worth $8,981,000 after buying an additional 50,301 shares in the last quarter. Finally, West Family Investments Inc. lifted its holdings in HDFC Bank by 88.9% during the third quarter. West Family Investments Inc. now owns 21,580 shares of the bank’s stock worth $1,350,000 after buying an additional 10,154 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

HDB stock opened at $64.50 on Monday. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The firm has a market cap of $163.33 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.69 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a 50-day simple moving average of $63.03 and a two-hundred day simple moving average of $61.21.

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 during the quarter, compared to analysts’ expectations of $4.84 billion. On average, equities analysts forecast that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.