Channing Global Advisors LLC Increases Stake in HDFC Bank Limited (NYSE:HDB)

Channing Global Advisors LLC boosted its stake in HDFC Bank Limited (NYSE:HDB) by 88.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,404 shares of the bank’s stock after purchasing an additional 16,102 shares during the quarter. HDFC Bank comprises 1.8% of Channing Global Advisors LLC’s portfolio, making the stock its 19th largest position. Channing Global Advisors LLC’s holdings in HDFC Bank were worth $2,152,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. lifted its stake in shares of HDFC Bank by 104.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after purchasing an additional 254 shares in the last quarter. Ridgewood Investments LLC purchased a new position in HDFC Bank in the second quarter valued at approximately $36,000. Northwest Investment Counselors LLC acquired a new position in HDFC Bank during the third quarter valued at approximately $38,000. JFS Wealth Advisors LLC grew its stake in HDFC Bank by 70.2% during the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after buying an additional 275 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of HDFC Bank in the first quarter worth $56,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 1.3 %

Shares of HDB opened at $67.50 on Friday. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $67.76. The stock’s 50-day moving average is $63.32 and its two-hundred day moving average is $61.45. 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 $170.93 billion, a PE ratio of 20.52, a P/E/G ratio of 1.79 and a beta of 0.91.

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

Analyst Upgrades and Downgrades

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

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.