CCLA Investment Management Purchases 18,990 Shares of HDFC Bank Limited (NYSE:HDB)

CCLA Investment Management lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,767,723 shares of the bank’s stock after purchasing an additional 18,990 shares during the period. HDFC Bank accounts for about 1.8% of CCLA Investment Management’s portfolio, making the stock its 27th biggest position. CCLA Investment Management owned 0.10% of HDFC Bank worth $113,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mondrian Investment Partners LTD lifted its stake in HDFC Bank by 74.9% in the second quarter. Mondrian Investment Partners LTD now owns 1,232,670 shares of the bank’s stock valued at $73,973,000 after purchasing an additional 527,956 shares during the last quarter. Blair William & Co. IL grew its stake in shares of HDFC Bank by 4.1% in the second quarter. Blair William & Co. IL now owns 15,947 shares of the bank’s stock worth $1,026,000 after purchasing an additional 633 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in HDFC Bank by 85.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 46,326 shares of the bank’s stock valued at $2,953,000 after acquiring an additional 21,344 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of HDFC Bank by 6.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,906 shares of the bank’s stock worth $895,000 after purchasing an additional 833 shares in the last quarter. Finally, Wealth Alliance increased its position in shares of HDFC Bank by 53.2% during the second quarter. Wealth Alliance now owns 17,281 shares of the bank’s stock valued at $1,112,000 after acquiring an additional 6,002 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HDB. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

HDFC Bank Price Performance

HDFC Bank stock opened at $62.98 on Wednesday. The company has a fifty day simple moving average of $60.54 and a 200-day simple moving average of $59.14. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37. The stock has a market cap of $117.13 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last posted its earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The company had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. Equities analysts expect that HDFC Bank Limited will post 2.97 EPS for the current fiscal year.

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.