Connor Clark & Lunn Investment Management Ltd. Increases Position in HDFC Bank Limited $HDB

Connor Clark & Lunn Investment Management Ltd. boosted its position in HDFC Bank Limited (NYSE:HDB) by 78.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,431,731 shares of the bank’s stock after acquiring an additional 1,066,692 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in HDFC Bank were worth $83,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in HDB. Hudson Edge Investment Partners Inc. boosted its stake in shares of HDFC Bank by 100.6% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank’s stock valued at $51,452,000 after purchasing an additional 755,200 shares in the last quarter. Jacobson & Schmitt Advisors LLC raised its position in HDFC Bank by 97.7% in the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 383,137 shares of the bank’s stock worth $13,088,000 after purchasing an additional 189,303 shares during the period. ABN Amro Investment Solutions lifted its stake in HDFC Bank by 100.0% in the third quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock worth $7,141,000 after purchasing an additional 104,525 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in HDFC Bank by 102.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock worth $80,936,000 after purchasing an additional 1,199,084 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its position in HDFC Bank by 77.3% during the third quarter. Impax Asset Management Group plc now owns 1,687,380 shares of the bank’s stock valued at $57,641,000 after buying an additional 735,409 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 3.4%

Shares of NYSE HDB opened at $28.47 on Thursday. The firm has a fifty day simple moving average of $32.60 and a two-hundred day simple moving average of $34.66. HDFC Bank Limited has a 12 month low of $28.32 and a 12 month high of $39.81. The firm has a market capitalization of $145.22 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, HDFC Bank presently has a consensus rating of “Reduce”.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).