The Manufacturers Life Insurance Company Purchases 9,084 Shares of HDFC Bank Limited (NYSE:HDB)

The Manufacturers Life Insurance Company raised its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 266,600 shares of the bank's stock after acquiring an additional 9,084 shares during the quarter. The Manufacturers Life Insurance Company's holdings in HDFC Bank were worth $17,025,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. FIL Ltd grew its position in shares of HDFC Bank by 17.5% in the 4th quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock valued at $1,115,451,000 after purchasing an additional 2,599,337 shares during the period. GQG Partners LLC increased its position in shares of HDFC Bank by 74.4% during the fourth quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock worth $503,431,000 after acquiring an additional 3,364,114 shares in the last quarter. FMR LLC raised its holdings in shares of HDFC Bank by 13.3% during the fourth quarter. FMR LLC now owns 7,793,113 shares of the bank's stock worth $497,668,000 after acquiring an additional 914,289 shares during the period. Schroder Investment Management Group lifted its position in HDFC Bank by 82.1% in the 4th quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank's stock valued at $447,584,000 after acquiring an additional 3,160,533 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in HDFC Bank by 1.7% during the 4th quarter. Franklin Resources Inc. now owns 6,917,816 shares of the bank's stock worth $441,772,000 after purchasing an additional 113,988 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Price Performance

Shares of HDB traded up $1.01 during midday trading on Friday, hitting $70.51. The company's stock had a trading volume of 1,066,093 shares, compared to its average volume of 2,811,126. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a one year low of $54.99 and a one year high of $75.37. The stock has a market capitalization of $178.55 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 2.12 and a beta of 0.63. The company's fifty day simple moving average is $66.74 and its two-hundred day simple moving average is $64.12.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. The company had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $434.68 billion. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. As a group, equities analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on HDB. StockNews.com cut HDFC Bank from a "hold" rating to a "sell" rating in a research report on Monday. Nomura Securities raised shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. Finally, Nomura upgraded shares of HDFC Bank from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd.

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.