Naviter Wealth LLC Raises Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Naviter Wealth LLC raised its stake in shares of HDFC Bank Limited (NYSE:HDB) by 68.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,202 shares of the bank’s stock after purchasing an additional 13,517 shares during the quarter. Naviter Wealth LLC’s holdings in HDFC Bank were worth $1,858,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Morgan Stanley increased its position in HDFC Bank by 5.1% during the 3rd quarter. Morgan Stanley now owns 14,886,302 shares of the bank’s stock valued at $878,441,000 after purchasing an additional 723,106 shares during the period. FIL Ltd grew its position in shares of HDFC Bank by 10.8% in the 4th 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 during the period. Baillie Gifford & Co. grew its position in shares of HDFC Bank by 0.8% in the 4th quarter. Baillie Gifford & Co. now owns 9,636,983 shares of the bank’s stock worth $646,738,000 after buying an additional 76,505 shares during the period. Harding Loevner LP grew its position in shares of HDFC Bank by 31.7% in the 4th 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 during the period. Finally, Ameriprise Financial Inc. grew its position in shares of HDFC Bank by 4.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,772,331 shares of the bank’s stock worth $516,561,000 after buying an additional 410,884 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

HDFC Bank Stock Up 4.5 %

Shares of NYSE:HDB traded up $2.91 during midday trading on Tuesday, reaching $67.01. The company’s stock had a trading volume of 4,858,908 shares, compared to its average volume of 3,230,711. The firm has a 50 day moving average of $58.99 and a 200-day moving average of $58.51. The firm has a market capitalization of $124.62 billion, a P/E ratio of 20.55, a PEG ratio of 1.20 and a beta of 0.92. The company has a quick ratio of 0.52, a current ratio of 0.40 and a debt-to-equity ratio of 1.78. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $71.39.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.13. The company had revenue of $9.72 billion for the quarter. HDFC Bank had a net margin of 15.71% and a return on equity of 15.45%. On average, research analysts anticipate that HDFC Bank Limited will post 3.12 earnings per share 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 was Wednesday, May 8th. This represents a yield of 1%. HDFC Bank’s payout ratio is presently 18.40%.

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.