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

Manning & Napier Advisors LLC cut its stake in HDFC Bank Limited (NYSE:HDB) by 8.1% in the fourth quarter, HoldingsChannel reports. The firm owned 2,331,128 shares of the bank’s stock after selling 206,029 shares during the quarter. HDFC Bank makes up about 1.7% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 16th biggest position. Manning & Napier Advisors LLC’s holdings in HDFC Bank were worth $148,866,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. boosted its holdings in HDFC Bank by 172.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,380,979 shares of the bank’s stock valued at $215,909,000 after purchasing an additional 2,140,591 shares during the period. BSW Wealth Partners raised its stake in HDFC Bank by 6.0% in the fourth quarter. BSW Wealth Partners now owns 8,195 shares of the bank’s stock valued at $523,000 after buying an additional 464 shares in the last quarter. Matthews International Capital Management LLC increased its position in shares of HDFC Bank by 12.8% during the fourth quarter. Matthews International Capital Management LLC now owns 138,572 shares of the bank’s stock worth $8,849,000 after purchasing an additional 15,750 shares in the last quarter. KBC Group NV increased its position in shares of HDFC Bank by 22.1% during the fourth quarter. KBC Group NV now owns 133,247 shares of the bank’s stock worth $8,509,000 after purchasing an additional 24,088 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of HDFC Bank during the fourth quarter worth about $1,077,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

Shares of NYSE:HDB traded down $0.42 during trading on Wednesday, hitting $59.93. 215,817 shares of the stock were exchanged, compared to its average volume of 2,967,612. The company has a fifty day moving average price of $63.56 and a two-hundred day moving average price of $62.38. The company has a market cap of $151.75 billion, a PE ratio of 18.22, a P/E/G ratio of 1.73 and a beta of 0.92. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $68.50.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 11.78% and a net margin of 14.64%. On average, analysts forecast that HDFC Bank Limited will post 3.13 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Finally, StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

HDFC Bank Company 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.