HDFC Bank Limited (NYSE:HDB) Shares Acquired by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. grew its position in HDFC Bank Limited (NYSE:HDB) by 36.5% in the first quarter, HoldingsChannel reports. The fund owned 7,922 shares of the bank’s stock after acquiring an additional 2,118 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in HDFC Bank were worth $443,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its position in shares of HDFC Bank by 0.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 22,404 shares of the bank’s stock worth $1,504,000 after acquiring an additional 183 shares during the period. Endowment Wealth Management Inc. raised its position in shares of HDFC Bank by 4.6% during the 4th quarter. Endowment Wealth Management Inc. now owns 4,166 shares of the bank’s stock worth $280,000 after purchasing an additional 184 shares during the last quarter. Private Advisor Group LLC raised its position in shares of HDFC Bank by 2.3% during the 4th quarter. Private Advisor Group LLC now owns 9,853 shares of the bank’s stock worth $661,000 after purchasing an additional 218 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of HDFC Bank by 2.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 9,816 shares of the bank’s stock worth $659,000 after purchasing an additional 253 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of HDFC Bank by 19.1% during the 4th quarter. First Horizon Advisors Inc. now owns 1,634 shares of the bank’s stock worth $110,000 after purchasing an additional 262 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

NYSE HDB traded down $0.22 during trading hours on Tuesday, hitting $59.91. 1,736,409 shares of the company’s stock traded hands, compared to its average volume of 3,124,907. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $69.03. The company has a market capitalization of $111.43 billion, a PE ratio of 18.38, a PEG ratio of 1.66 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s 50-day moving average is $60.79 and its 200-day moving average is $57.79.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 14.79%. The company had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Equities analysts forecast that HDFC Bank Limited will post 2.88 EPS for the current fiscal year.

HDFC Bank Increases Dividend

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

Wall Street Analyst Weigh In

HDB has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. 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 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.