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

Manning & Napier Advisors LLC trimmed its stake in HDFC Bank Limited (NYSE:HDB) by 8.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,331,128 shares of the bank’s stock after selling 206,029 shares during the period. HDFC Bank accounts for 1.7% of Manning & Napier Advisors LLC’s portfolio, making the stock its 16th largest position. Manning & Napier Advisors LLC owned 0.09% of HDFC Bank worth $148,866,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in HDB. Temasek Holdings Private Ltd boosted its stake in shares of HDFC Bank by 1.6% in the third quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock worth $523,453,000 after buying an additional 132,445 shares during the last quarter. FMR LLC boosted its position in HDFC Bank by 19.3% during the third quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock worth $430,339,000 after purchasing an additional 1,114,210 shares in the last quarter. Franklin Resources Inc. boosted its position in HDFC Bank by 9.0% during the third quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock worth $420,477,000 after purchasing an additional 560,880 shares in the last quarter. Wellington Management Group LLP boosted its position in HDFC Bank by 2.2% during the third quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock worth $317,141,000 after purchasing an additional 108,312 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in HDFC Bank by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank’s stock worth $302,970,000 after purchasing an additional 51,736 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HDB. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd.

HDFC Bank Price Performance

Shares of NYSE:HDB traded down $0.42 during midday trading on Wednesday, hitting $59.93. The company had a trading volume of 215,817 shares, compared to its average volume of 2,967,612. The business’s 50-day simple moving average is $63.56 and its 200-day simple moving average is $62.38. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market cap of $151.75 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.73 and a beta of 0.92. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $68.50.

HDFC Bank (NYSE:HDB) last posted its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (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, research analysts predict that HDFC Bank Limited will post 3.13 earnings per share for the current year.

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.