CIBC Asset Management Inc Purchases 6,473 Shares of HDFC Bank Limited (NYSE:HDB)

CIBC Asset Management Inc grew its position in HDFC Bank Limited (NYSE:HDB) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,879 shares of the bank’s stock after acquiring an additional 6,473 shares during the quarter. CIBC Asset Management Inc’s holdings in HDFC Bank were worth $11,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in HDFC Bank in the 2nd quarter worth approximately $36,000. Northwest Investment Counselors LLC bought a new stake in HDFC Bank in the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC increased its position in shares of HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. GAMMA Investing LLC increased its position in shares of HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after purchasing an additional 324 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of HDFC Bank during the 1st quarter valued at approximately $56,000. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE HDB opened at $61.90 on Friday. The business’s 50 day moving average price is $62.86 and its 200-day moving average price is $60.98. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $67.44. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market cap of $156.75 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.61 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The company had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Sell-side analysts predict that HDFC Bank Limited will post 3.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd.

HDFC Bank 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.