Connor Clark & Lunn Investment Management Ltd. Has $87.60 Million Stake in HDFC Bank Limited (NYSE:HDB)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in HDFC Bank by 2.9% to a total of 1,318,530 shares, now valued at approximately $87.6 million.
• In the first quarter, other significant investors such as National Bank of Canada FI and Citigroup Inc. also expanded their holdings in HDFC Bank by 81.3% and 21.9%, respectively.
• Wall Street analysts upgraded HDFC Bank from a "sell" to a "hold" rating, despite the stock experiencing a 1.3% decline recently.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 2.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,318,530 shares of the bank's stock after buying an additional 36,646 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of HDFC Bank worth $87,603,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in HDB. GAMMA Investing LLC increased its stake in HDFC Bank by 6.8% in the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock valued at $159,000 after acquiring an additional 153 shares during the period. DMC Group LLC grew its stake in HDFC Bank by 2.5% during the first quarter. DMC Group LLC now owns 7,418 shares of the bank's stock worth $493,000 after buying an additional 181 shares during the last quarter. Platform Technology Partners grew its stake in HDFC Bank by 2.7% during the first quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock worth $508,000 after buying an additional 201 shares during the last quarter. Portside Wealth Group LLC grew its stake in HDFC Bank by 2.7% during the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock worth $599,000 after buying an additional 241 shares during the last quarter. Finally, Eagle Global Advisors LLC grew its stake in HDFC Bank by 0.4% during the fourth quarter. Eagle Global Advisors LLC now owns 84,660 shares of the bank's stock worth $5,406,000 after buying an additional 305 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Stock Performance

HDFC Bank stock traded down $0.24 during trading hours on Tuesday, hitting $73.85. 1,501,822 shares of the stock were exchanged, compared to its average volume of 2,593,418. The stock has a market capitalization of $188.37 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.86 and a beta of 0.64. HDFC Bank Limited has a 12 month low of $57.78 and a 12 month high of $79.61. The business's 50-day moving average is $76.08 and its two-hundred day moving average is $69.64.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings data on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. On average, equities analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th.

HDFC Bank 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.