Cerity Partners LLC Buys 22,523 Shares of HDFC Bank Limited (NYSE:HDB)

Cerity Partners LLC raised its position in shares of HDFC Bank Limited (NYSE:HDB) by 53.4% in the third quarter, HoldingsChannel reports. The fund owned 64,710 shares of the bank’s stock after acquiring an additional 22,523 shares during the period. Cerity Partners LLC’s holdings in HDFC Bank were worth $4,048,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Citigroup Inc. boosted its stake in HDFC Bank by 21.1% in the 3rd quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock valued at $71,559,000 after purchasing an additional 199,582 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of HDFC Bank by 13.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock worth $15,114,000 after buying an additional 28,500 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of HDFC Bank in the second quarter valued at about $166,709,000. US Bancorp DE grew its stake in shares of HDFC Bank by 38.1% in the third quarter. US Bancorp DE now owns 139,865 shares of the bank’s stock valued at $8,750,000 after acquiring an additional 38,571 shares in the last quarter. Finally, Comgest Global Investors S.A.S. increased its position in HDFC Bank by 202.6% during the third quarter. Comgest Global Investors S.A.S. now owns 432,835 shares of the bank’s stock worth $27,078,000 after acquiring an additional 289,781 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday.

HDFC Bank Trading Down 1.1 %

Shares of NYSE:HDB opened at $66.79 on Friday. The business’s 50 day simple moving average is $63.34 and its 200 day simple moving average is $61.53. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.76. 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 company has a market capitalization of $169.13 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.79 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The firm had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $4.84 billion. On average, research analysts anticipate that HDFC Bank Limited will post 3.15 EPS for the current fiscal 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.