Channing Global Advisors LLC Increases Stock Position in HDFC Bank Limited (NYSE:HDB)

Channing Global Advisors LLC grew its position in HDFC Bank Limited (NYSE:HDB) by 20.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,560 shares of the bank’s stock after purchasing an additional 7,156 shares during the period. HDFC Bank comprises about 1.8% of Channing Global Advisors LLC’s portfolio, making the stock its 18th largest position. Channing Global Advisors LLC’s holdings in HDFC Bank were worth $2,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. raised its holdings in shares of HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after purchasing an additional 254 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in HDFC Bank during the third quarter valued at about $38,000. JFS Wealth Advisors LLC grew its position in HDFC Bank by 70.2% during the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after buying an additional 275 shares during the period. RPg Family Wealth Advisory LLC bought a new position in HDFC Bank during the third quarter valued at about $65,000. Finally, GAMMA Investing LLC grew its position in HDFC Bank by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock valued at $76,000 after buying an additional 312 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $60.68 on Wednesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $153.65 billion, a PE ratio of 18.44, a P/E/G ratio of 1.70 and a beta of 0.91. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $68.50. The company has a 50-day moving average price of $62.52 and a two-hundred day moving average price of $62.41.

HDFC Bank (NYSE:HDB) last issued its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Equities analysts forecast that HDFC Bank Limited will post 3.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HDB. Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

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.