Clearbridge Investments LLC Sells 6,283 Shares of HDFC Bank Limited (NYSE:HDB)

Clearbridge Investments LLC lowered its stake in HDFC Bank Limited (NYSE:HDB) by 1.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 604,468 shares of the bank’s stock after selling 6,283 shares during the quarter. Clearbridge Investments LLC’s holdings in HDFC Bank were worth $33,832,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new stake in HDFC Bank in the fourth quarter worth about $29,000. GAMMA Investing LLC purchased a new stake in HDFC Bank during the 4th quarter valued at $33,000. Northwest Investment Counselors LLC bought a new position in shares of HDFC Bank during the first quarter valued at about $34,000. Parkside Financial Bank & Trust boosted its holdings in HDFC Bank by 89.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock valued at $41,000 after acquiring an additional 291 shares in the last quarter. Finally, Janiczek Wealth Management LLC bought a new stake in shares of HDFC Bank during the 1st quarter valued at $35,000. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on HDB shares. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded down $0.23 during trading on Tuesday, hitting $60.54. The stock had a trading volume of 1,988,927 shares, compared to its average volume of 3,177,199. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $71.39. The company has a quick ratio of 0.52, a current ratio of 0.40 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $112.60 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 1.27 and a beta of 0.92. The stock has a 50-day simple moving average of $60.41 and a two-hundred day simple moving average of $57.98.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.27. HDFC Bank had a net margin of 15.71% and a return on equity of 15.45%. The firm had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. On average, equities research analysts expect that HDFC Bank Limited will post 3.07 earnings per share for the current fiscal year.

HDFC Bank Increases Dividend

The company also recently declared an annual dividend, which was paid on Wednesday, May 8th. Investors of record on Thursday, May 9th were paid a dividend of $0.7008 per share. This represents a yield of 1%. The ex-dividend date of this dividend was Wednesday, May 8th. This is an increase from HDFC Bank’s previous annual dividend of $0.59. HDFC Bank’s dividend payout ratio (DPR) is currently 18.40%.

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.