78,143 Shares in HDFC Bank Limited (NYSE:HDB) Acquired by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI bought a new position in shares of HDFC Bank Limited (NYSE:HDB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 78,143 shares of the bank’s stock, valued at approximately $4,374,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new stake in shares of HDFC Bank in the fourth quarter worth $29,000. GAMMA Investing LLC bought a new stake in shares of HDFC Bank in the 4th quarter valued at about $33,000. Northwest Investment Counselors LLC acquired a new stake in shares of HDFC Bank in the first quarter valued at about $34,000. Janiczek Wealth Management LLC bought a new position in shares of HDFC Bank during the first quarter worth about $35,000. Finally, 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 during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Down 0.3 %

Shares of HDB stock traded down $0.18 during trading hours on Tuesday, reaching $59.95. The company had a trading volume of 584,389 shares, compared to its average volume of 3,117,576. The company has a market cap of $111.50 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.66 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $69.03. The business has a fifty day simple moving average of $60.72 and a 200-day simple moving average of $57.83.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.27. HDFC Bank had a return on equity of 14.79% and a net margin of 14.69%. The business had revenue of $14.03 billion for the quarter, compared to analysts’ expectations of $4.81 billion. On average, research analysts expect that HDFC Bank Limited will post 2.88 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 issued a dividend of $0.7008 per share. The ex-dividend date was Wednesday, May 8th. This is a boost from HDFC Bank’s previous annual dividend of $0.59. This represents a yield of 1%. HDFC Bank’s payout ratio is 18.40%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HDB. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

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.