HDFC Bank Limited (NYSE:HDB) Stake Boosted by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,838 shares of the bank’s stock after acquiring an additional 4,778 shares during the period. Coronation Fund Managers Ltd.’s holdings in HDFC Bank were worth $13,628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of HDB. Baillie Gifford & Co. increased its position in HDFC Bank by 2.3% during the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock worth $741,932,000 after buying an additional 263,690 shares during the last quarter. Sustainable Growth Advisers LP raised its stake in shares of HDFC Bank by 24.1% in the 1st quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock valued at $493,884,000 after acquiring an additional 1,711,784 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in HDFC Bank by 11.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank’s stock worth $308,214,000 after purchasing an additional 486,653 shares during the last quarter. PineStone Asset Management Inc. boosted its position in HDFC Bank by 115.1% during the second 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 during the period. Finally, Capital World Investors boosted its position in HDFC Bank by 208.6% during 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 period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

NYSE HDB opened at $63.20 on Friday. The stock has a market capitalization of $160.04 billion, a PE ratio of 19.21, a P/E/G ratio of 1.65 and a beta of 0.91. The stock has a 50-day simple moving average of $62.46 and a 200 day simple moving average of $60.63. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HDB shares. JPMorgan Chase & Co. cut shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, October 12th.

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.