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

1832 Asset Management L.P. increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 18.5% during the first quarter, HoldingsChannel.com reports. 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.’s holdings in HDFC Bank were worth $75,153,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FIL Ltd boosted its holdings in HDFC Bank by 10.8% during the fourth quarter. FIL Ltd now owns 13,594,291 shares of the bank’s stock worth $912,313,000 after buying an additional 1,326,574 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in HDFC Bank by 16.9% during the first quarter. Baillie Gifford & Co. now owns 11,269,525 shares of the bank’s stock worth $630,755,000 after buying an additional 1,632,542 shares in the last quarter. Harding Loevner LP boosted its holdings in HDFC Bank by 31.7% during the fourth quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock worth $621,646,000 after buying an additional 2,276,203 shares in the last quarter. Sustainable Growth Advisers LP boosted its holdings in HDFC Bank by 24.1% during the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock worth $493,884,000 after buying an additional 1,711,784 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in HDFC Bank by 1.6% during the fourth quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank’s stock worth $581,679,000 after buying an additional 133,791 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

HDB traded up $0.44 during midday trading on Friday, hitting $60.64. 1,139,175 shares of the company traded hands, compared to its average volume of 2,682,040. The company has a current ratio of 0.51, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $112.79 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 1.65 and a beta of 0.93. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $70.54. The business has a 50 day simple moving average of $60.65 and a two-hundred day simple moving average of $57.92.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.27. The business had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 14.79%. On average, equities analysts forecast that HDFC Bank Limited will post 2.88 earnings per share for the current fiscal year.

HDFC Bank Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, May 8th. Stockholders of record on Thursday, May 9th were paid a $0.7008 dividend. This is an increase from HDFC Bank’s previous annual dividend of $0.59. This represents a dividend yield of 1%. The ex-dividend date of this dividend was Wednesday, May 8th. HDFC Bank’s dividend payout ratio (DPR) is currently 18.10%.

Analyst Ratings Changes

Several equities analysts have issued reports on HDB shares. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a 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.