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

A number of other institutional investors have also bought and sold shares of HDB. Northern Trust Corp boosted its holdings in HDFC Bank by 52.0% in the fourth quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock worth $64,855,000 after acquiring an additional 347,488 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in HDFC Bank in the fourth quarter worth approximately $580,000. Raiffeisen Bank International AG boosted its holdings in HDFC Bank by 21.3% in the first quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank's stock worth $12,778,000 after acquiring an additional 33,983 shares in the last quarter. Natixis Advisors LLC boosted its holdings in HDFC Bank by 20.6% in the first quarter. Natixis Advisors LLC now owns 2,238,560 shares of the bank's stock worth $148,730,000 after acquiring an additional 382,267 shares in the last quarter. Finally, ARGA Investment Management LP boosted its holdings in HDFC Bank by 7.2% in the first quarter. ARGA Investment Management LP now owns 1,553,975 shares of the bank's stock worth $103,246,000 after acquiring an additional 104,162 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Up 0.5%

Shares of HDB traded up $0.37 on Wednesday, reaching $74.20. The company's stock had a trading volume of 1,181,380 shares, compared to its average volume of 2,583,854. HDFC Bank Limited has a twelve month low of $57.78 and a twelve month high of $79.61. The stock has a market capitalization of $189.26 billion, a PE ratio of 22.74, a PEG ratio of 1.85 and a beta of 0.64. The firm has a fifty day moving average of $76.06 and a 200-day moving average of $69.67.

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

Wall Street Analyst Weigh In

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

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.