HDFC Bank Limited (NYSE:HDB) Stock Position Increased by Channing Global Advisors LLC

Channing Global Advisors LLC increased its stake in HDFC Bank Limited (NYSE:HDB) by 51.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 175,371 shares of the bank’s stock after buying an additional 59,661 shares during the period. HDFC Bank accounts for about 9.2% of Channing Global Advisors LLC’s holdings, making the stock its 3rd largest holding. Channing Global Advisors LLC’s holdings in HDFC Bank were worth $11,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Morgan Stanley grew its stake in shares of HDFC Bank by 5.1% in the 3rd quarter. Morgan Stanley now owns 14,886,302 shares of the bank’s stock worth $878,441,000 after buying an additional 723,106 shares during the last quarter. Baillie Gifford & Co. boosted its stake in HDFC Bank by 0.8% during the 4th quarter. Baillie Gifford & Co. now owns 9,636,983 shares of the bank’s stock valued at $646,738,000 after purchasing an additional 76,505 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in HDFC Bank by 4.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,772,331 shares of the bank’s stock valued at $516,561,000 after purchasing an additional 410,884 shares during the last quarter. Sustainable Growth Advisers LP boosted its stake in HDFC Bank by 2.2% during the 3rd quarter. Sustainable Growth Advisers LP now owns 6,933,843 shares of the bank’s stock valued at $409,166,000 after purchasing an additional 146,980 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its stake in HDFC Bank by 2.9% during the 4th quarter. Impax Asset Management Group plc now owns 5,771,491 shares of the bank’s stock valued at $386,431,000 after purchasing an additional 160,220 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Monday.

HDFC Bank Stock Performance

Shares of NYSE HDB traded down $0.02 during midday trading on Friday, hitting $58.31. 672,387 shares of the stock traded hands, compared to its average volume of 3,544,089. The firm has a 50-day moving average of $56.10 and a two-hundred day moving average of $58.57. The firm has a market capitalization of $108.45 billion, a P/E ratio of 17.89, a PEG ratio of 1.09 and a beta of 0.87. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40. HDFC Bank Limited has a one year low of $52.16 and a one year high of $71.39.

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.