Zurich Insurance Group Ltd FI Acquires Shares of 78,143 HDFC Bank Limited (NYSE:HDB)

Zurich Insurance Group Ltd FI purchased a new position in shares of HDFC Bank Limited (NYSE:HDB) in the 1st quarter, Holdings Channel.com reports. The firm purchased 78,143 shares of the bank’s stock, valued at approximately $4,374,000.

Other hedge funds also recently made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new position in shares of HDFC Bank during the fourth quarter worth about $29,000. GAMMA Investing LLC acquired a new position in HDFC Bank during the 4th quarter worth approximately $33,000. Northwest Investment Counselors LLC acquired a new position in HDFC Bank during the 1st quarter worth approximately $34,000. Parkside Financial Bank & Trust raised its stake in shares of HDFC Bank by 89.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock worth $41,000 after buying an additional 291 shares in the last quarter. Finally, Janiczek Wealth Management LLC acquired a new stake in shares of HDFC Bank in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.3 %

Shares of HDB stock traded down $0.18 during mid-day trading on Tuesday, hitting $59.95. 584,389 shares of the company’s stock were exchanged, compared to its average volume of 3,117,576. The stock has a market cap of $111.50 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.66 and a beta of 0.92. The stock has a 50-day simple moving average of $60.72 and a two-hundred day simple moving average of $57.83. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $69.03. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS 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 company had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Equities analysts expect that HDFC Bank Limited will post 2.88 EPS for the current fiscal year.

HDFC Bank Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, May 8th. Stockholders of record on Thursday, May 9th were issued a dividend of $0.7008 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a dividend yield of 1%. This is a boost from HDFC Bank’s previous annual dividend of $0.59. HDFC Bank’s payout ratio is presently 18.40%.

Wall Street Analysts Forecast Growth

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

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.