Manning & Napier Advisors LLC Invests $166.71 Million in HDFC Bank Limited (NYSE:HDB)

Manning & Napier Advisors LLC bought a new position in shares of HDFC Bank Limited (NYSE:HDB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,591,465 shares of the bank’s stock, valued at approximately $166,709,000. HDFC Bank makes up 1.9% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 14th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new stake in HDFC Bank in the 4th quarter valued at $29,000. GAMMA Investing LLC bought a new position in shares of HDFC Bank in the 4th quarter valued at about $33,000. Northwest Investment Counselors LLC bought a new stake in shares of HDFC Bank in the 1st quarter valued at about $34,000. Janiczek Wealth Management LLC acquired a new stake in HDFC Bank in the 1st quarter valued at about $35,000. Finally, Parkside Financial Bank & Trust grew its holdings in HDFC Bank by 89.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock worth $41,000 after purchasing an additional 291 shares during the period. 17.61% of the stock is owned by institutional investors.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded up $0.48 during trading on Friday, reaching $60.73. 2,368,986 shares of the stock were exchanged, compared to its average volume of 3,193,082. The firm has a market cap of $112.95 billion, a PE ratio of 18.49, a PEG ratio of 1.66 and a beta of 0.93. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $67.54. The stock has a 50-day moving average price of $61.11 and a 200-day moving average price of $57.84.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The firm had revenue of $14.03 billion for the quarter, compared to analyst estimates of $4.81 billion. Research analysts expect that HDFC Bank Limited will post 2.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

HDFC Bank Company 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.