Financial Perspectives Inc Raises Position in HDFC Bank Limited (NYSE:HDB)

Financial Perspectives Inc raised its holdings in HDFC Bank Limited (NYSE:HDB) by 53.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,922 shares of the bank’s stock after buying an additional 1,013 shares during the period. Financial Perspectives Inc’s holdings in HDFC Bank were worth $164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Frazier Financial Advisors LLC purchased a new stake in shares of HDFC Bank during the 4th quarter worth $29,000. GAMMA Investing LLC acquired a new position in shares of HDFC Bank in the fourth quarter valued at approximately $33,000. Northwest Investment Counselors LLC acquired a new position in HDFC Bank during the first quarter worth approximately $34,000. Janiczek Wealth Management LLC acquired a new position in HDFC Bank during the first quarter worth approximately $35,000. Finally, Parkside Financial Bank & Trust increased its position in HDFC Bank by 89.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock worth $41,000 after purchasing an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.5 %

Shares of NYSE:HDB traded down $0.33 during mid-day trading on Thursday, hitting $66.64. The stock had a trading volume of 2,314,936 shares, compared to its average volume of 2,827,470. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40. The company has a market cap of $123.94 billion, a PE ratio of 20.44, a P/E/G ratio of 1.25 and a beta of 0.93. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $71.39. The company’s 50 day moving average is $59.33 and its 200-day moving average is $58.57.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, April 20th. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.71 by $0.13. HDFC Bank had a net margin of 15.71% and a return on equity of 15.45%. The business had revenue of $9.72 billion during the quarter. On average, sell-side analysts predict that HDFC Bank Limited will post 3.1 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 paid a $0.7008 dividend. This is a boost from HDFC Bank’s previous annual dividend of $0.59. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a dividend yield of 1%. HDFC Bank’s payout ratio is presently 18.40%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of 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.