1832 Asset Management L.P. Grows Stock Holdings in HDFC Bank Limited (NYSE:HDB)

1832 Asset Management L.P. lifted its position in shares of HDFC Bank Limited (NYSE:HDB) by 18.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,342,736 shares of the bank’s stock after buying an additional 209,783 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.07% of HDFC Bank worth $75,153,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HDB. Frazier Financial Advisors LLC purchased a new stake in HDFC Bank in the 4th quarter worth $29,000. GAMMA Investing LLC purchased a new stake in HDFC Bank in the 4th quarter worth $33,000. Northwest Investment Counselors LLC purchased a new stake in HDFC Bank in the 1st quarter worth $34,000. Janiczek Wealth Management LLC purchased a new stake in HDFC Bank in the 1st quarter worth $35,000. Finally, Parkside Financial Bank & Trust lifted its stake in HDFC Bank by 89.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock worth $41,000 after purchasing an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on HDB. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

HDFC Bank Price Performance

Shares of HDFC Bank stock traded up $0.44 during trading hours on Friday, reaching $60.64. The company’s stock had a trading volume of 1,139,175 shares, compared to its average volume of 2,682,040. The firm has a 50 day moving average price of $60.65 and a 200-day moving average price of $57.92. HDFC Bank Limited has a one year low of $52.16 and a one year high of $70.54. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.52. The stock has a market cap of $112.79 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.65 and a beta of 0.93.

HDFC Bank (NYSE:HDB) last posted its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 14.79%. The firm had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. On average, analysts predict that HDFC Bank Limited will post 2.88 EPS for the current 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 issued a dividend of $0.7008 per share. This represents a yield of 1%. This is an increase from HDFC Bank’s previous annual dividend of $0.59. The ex-dividend date of this dividend was Wednesday, May 8th. HDFC Bank’s dividend payout ratio is presently 18.10%.

About HDFC Bank

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.