Confluence Investment Management LLC lowered its position in HDFC Bank Limited (NYSE:HDB – Get Rating) by 20.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,902 shares of the bank’s stock after selling 992 shares during the quarter. Confluence Investment Management LLC’s holdings in HDFC Bank were worth $260,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of HDFC Bank by 8.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 975,839 shares of the bank’s stock valued at $66,757,000 after purchasing an additional 74,918 shares during the period. Nuveen Asset Management LLC boosted its stake in HDFC Bank by 37.8% during the third quarter. Nuveen Asset Management LLC now owns 1,044,024 shares of the bank’s stock worth $60,991,000 after buying an additional 286,656 shares during the period. Aigen Investment Management LP purchased a new position in HDFC Bank during the fourth quarter worth about $2,268,000. Think Investments LP purchased a new position in HDFC Bank during the third quarter worth about $13,101,000. Finally, Summit Global Investments purchased a new position in HDFC Bank during the fourth quarter worth about $405,000. Hedge funds and other institutional investors own 17.50% of the company’s stock.
HDFC Bank Trading Up 2.9 %
Shares of HDB stock opened at $66.45 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.32 and a quick ratio of 0.36. The firm has a market cap of $122.83 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 0.98 and a beta of 0.75. The company has a 50-day moving average of $67.18 and a two-hundred day moving average of $67.28. HDFC Bank Limited has a 1-year low of $51.79 and a 1-year high of $71.76.
HDFC Bank (NYSE:HDB – Get Rating) last issued its quarterly earnings results on Monday, April 17th. The bank reported $0.82 earnings per share (EPS) for the quarter. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $3.88 billion. HDFC Bank had a net margin of 22.46% and a return on equity of 16.89%. On average, analysts predict that HDFC Bank Limited will post 3.51 EPS for the current year.
HDFC Bank Increases Dividend
The firm also recently declared an annual dividend, which was paid on Friday, May 12th. Stockholders of record on Monday, May 15th were given a dividend of $0.5935 per share. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 12th. This is a boost from HDFC Bank’s previous annual dividend of $0.58. HDFC Bank’s dividend payout ratio is currently 19.28%.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on shares of HDFC Bank in a research note on Thursday, May 18th. They set a “hold” rating for the company.
HDFC Bank Profile
HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. It operates in Treasury, Retail Banking, Wholesale Banking, Other Banking Business, and Unallocated segments. The company 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, overdrafts against fixed deposits, and sweep-in facilities.
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