Channing Global Advisors LLC Buys 94,387 Shares of HDFC Bank Limited $HDB

Channing Global Advisors LLC boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 113.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,394 shares of the bank’s stock after acquiring an additional 94,387 shares during the quarter. HDFC Bank comprises 4.2% of Channing Global Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Channing Global Advisors LLC’s holdings in HDFC Bank were worth $6,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Robeco Institutional Asset Management B.V. lifted its holdings in shares of HDFC Bank by 150.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock worth $396,312,000 after purchasing an additional 6,963,646 shares during the period. Schroder Investment Management Group raised its position in HDFC Bank by 19.0% during the 2nd quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock worth $813,830,000 after buying an additional 1,692,243 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of HDFC Bank by 89.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock worth $348,741,000 after acquiring an additional 4,810,042 shares during the period. PineStone Asset Management Inc. boosted its holdings in shares of HDFC Bank by 100.4% in the third quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock valued at $278,873,000 after acquiring an additional 4,089,267 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in shares of HDFC Bank by 97.1% in the third quarter. Baillie Gifford & Co. now owns 6,806,818 shares of the bank’s stock valued at $232,521,000 after acquiring an additional 3,353,109 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Up 0.6%

Shares of NYSE HDB opened at $32.52 on Friday. The stock has a market capitalization of $165.87 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.31 and a beta of 0.57. HDFC Bank Limited has a 52 week low of $29.23 and a 52 week high of $39.81. The firm has a 50-day moving average price of $34.80 and a 200 day moving average price of $35.84.

HDFC Bank (NYSE:HDB) last issued its earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. The company had revenue of $16.48 billion during the quarter, compared to analysts’ expectations of $5.12 billion. Equities research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HDB shares. Weiss Ratings raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).