Matthews International Capital Management LLC Cuts Stock Position in HDFC Bank Limited (NYSE:HDB)

Matthews International Capital Management LLC lessened its holdings in HDFC Bank Limited (NYSE:HDB) by 27.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,778 shares of the bank’s stock after selling 22,496 shares during the period. HDFC Bank comprises approximately 0.7% of Matthews International Capital Management LLC’s holdings, making the stock its 24th biggest holding. Matthews International Capital Management LLC’s holdings in HDFC Bank were worth $3,402,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Frazier Financial Advisors LLC bought a new stake in shares of HDFC Bank in the 4th quarter worth about $29,000. GAMMA Investing LLC bought a new stake in shares of HDFC Bank in the 4th quarter worth about $33,000. Northwest Investment Counselors LLC acquired a new position in shares of HDFC Bank in the 1st quarter valued at about $34,000. Parkside Financial Bank & Trust boosted its holdings in shares of HDFC Bank by 89.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock valued at $41,000 after buying an additional 291 shares during the period. Finally, Cape Investment Advisory Inc. acquired a new position in shares of HDFC Bank in the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank Stock Performance

HDFC Bank stock traded down $0.08 during midday trading on Wednesday, reaching $64.98. 4,041,655 shares of the stock traded hands, compared to its average volume of 3,212,241. The company has a current ratio of 0.40, a quick ratio of 0.52 and a debt-to-equity ratio of 1.78. The firm has a fifty day moving average price of $58.45 and a two-hundred day moving average price of $58.54. The firm has a market cap of $120.86 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.21 and a beta of 0.91. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $71.39.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.13. The firm had revenue of $9.72 billion during the quarter. HDFC Bank had a net margin of 15.71% and a return on equity of 15.45%. On average, equities research analysts forecast that HDFC Bank Limited will post 3.12 earnings per share for the current year.

HDFC Bank Increases Dividend

The business 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 a positive change from HDFC Bank’s previous annual dividend of $0.59. This represents a dividend yield of 1%. The ex-dividend date was Wednesday, May 8th. HDFC Bank’s dividend payout ratio 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.