Sweeney & Michel LLC Acquires New Holdings in HDFC Bank Limited (NYSE:HDB)

Sweeney & Michel LLC acquired a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,202 shares of the bank’s stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HDB. Breakout Capital Partners LP purchased a new stake in shares of HDFC Bank in the fourth quarter worth $18,894,000. CIBC Private Wealth Group LLC increased its stake in shares of HDFC Bank by 2.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 929,921 shares of the bank’s stock worth $62,407,000 after purchasing an additional 21,265 shares in the last quarter. Truist Financial Corp increased its stake in shares of HDFC Bank by 17.7% in the fourth quarter. Truist Financial Corp now owns 39,606 shares of the bank’s stock worth $2,658,000 after purchasing an additional 5,953 shares in the last quarter. Sei Investments Co. increased its stake in shares of HDFC Bank by 0.8% in the fourth quarter. Sei Investments Co. now owns 1,661,176 shares of the bank’s stock worth $111,481,000 after purchasing an additional 13,610 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in HDFC Bank during the fourth quarter valued at $1,818,000. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDB traded down $0.22 during trading on Tuesday, hitting $59.91. 1,736,409 shares of the company traded hands, compared to its average volume of 3,124,907. The company has a market cap of $111.43 billion, a PE ratio of 18.38, a P/E/G ratio of 1.66 and a beta of 0.92. The stock’s 50-day simple moving average is $60.79 and its two-hundred day simple moving average is $57.79. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $69.03. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 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 business had revenue of $14.03 billion during the quarter, compared to analyst estimates of $4.81 billion. As a group, sell-side analysts anticipate that HDFC Bank Limited will post 2.88 earnings per share for the current fiscal year.

HDFC Bank Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

About HDFC Bank

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.