HDFC Bank Limited (NYSE:HDB) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its stake in shares of HDFC Bank Limited (NYSE:HDB) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 604,468 shares of the bank’s stock after selling 6,283 shares during the quarter. Clearbridge Investments LLC’s holdings in HDFC Bank were worth $33,832,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

HDFC Bank Price Performance

HDFC Bank stock traded down $0.23 during trading hours on Tuesday, hitting $60.54. 1,988,927 shares of the stock were exchanged, compared to its average volume of 3,177,199. The stock has a market capitalization of $112.60 billion, a P/E ratio of 18.57, a P/E/G ratio of 1.27 and a beta of 0.92. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $71.39. The business’s 50-day moving average is $60.41 and its two-hundred day moving average is $57.98.

HDFC Bank (NYSE:HDB) last released its 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. The company had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. HDFC Bank had a return on equity of 15.45% and a net margin of 15.71%. Equities research analysts expect that HDFC Bank Limited will post 3.07 EPS for the current fiscal year.

HDFC Bank Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, May 8th. Shareholders of record on Thursday, May 9th were issued 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 is 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.