Manning & Napier Advisors LLC Lowers Position in HDFC Bank Limited (NYSE:HDB)

Manning & Napier Advisors LLC lessened its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,137,852 shares of the bank's stock after selling 193,276 shares during the quarter. HDFC Bank accounts for approximately 1.8% of Manning & Napier Advisors LLC's portfolio, making the stock its 16th largest holding. Manning & Napier Advisors LLC owned about 0.08% of HDFC Bank worth $142,039,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in HDFC Bank during the fourth quarter valued at about $29,000. Graney & King LLC purchased a new stake in HDFC Bank during the fourth quarter valued at about $38,000. Brown Brothers Harriman & Co. boosted its position in HDFC Bank by 63.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock valued at $39,000 after buying an additional 240 shares during the period. NBC Securities Inc. purchased a new stake in HDFC Bank during the first quarter valued at about $55,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in HDFC Bank during the fourth quarter valued at about $56,000. Institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Up 0.5%

NYSE HDB traded up $0.36 during trading on Monday, hitting $74.98. 1,425,317 shares of the company's stock traded hands, compared to its average volume of 2,787,816. The stock has a fifty day moving average of $73.40 and a two-hundred day moving average of $66.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.07 and a quick ratio of 0.09. HDFC Bank Limited has a 12-month low of $57.24 and a 12-month high of $77.76. The firm has a market cap of $189.88 billion, a P/E ratio of 22.72, a PEG ratio of 1.78 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $434.68 billion. HDFC Bank had a net margin of 15.02% and a return on equity of 13.85%. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th.

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.