Dynasty Wealth Management LLC Takes Position in HDFC Bank Limited (NYSE:HDB)

Dynasty Wealth Management LLC purchased a new position in HDFC Bank Limited (NYSE:HDB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,091 shares of the bank’s stock, valued at approximately $397,000.

Several other hedge funds have also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its position in shares of HDFC Bank by 13.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,019 shares of the bank’s stock valued at $404,000 after purchasing an additional 713 shares in the last quarter. Fifth Third Bancorp grew its position in shares of HDFC Bank by 31.6% during the fourth quarter. Fifth Third Bancorp now owns 45,077 shares of the bank’s stock worth $3,025,000 after purchasing an additional 10,829 shares in the last quarter. Alta Capital Management LLC purchased a new stake in shares of HDFC Bank during the fourth quarter worth about $206,000. DAVENPORT & Co LLC boosted its stake in HDFC Bank by 35.7% during the fourth quarter. DAVENPORT & Co LLC now owns 30,313 shares of the bank’s stock valued at $2,034,000 after buying an additional 7,974 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of HDFC Bank by 19.6% in the 4th quarter. UMB Bank n.a. now owns 3,223 shares of the bank’s stock valued at $216,000 after purchasing an additional 528 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Trading Up 0.2 %

HDFC Bank stock traded up $0.14 during mid-day trading on Wednesday, hitting $60.05. The company’s stock had a trading volume of 1,147,300 shares, compared to its average volume of 3,111,508. The firm has a market capitalization of $111.69 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93. 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. The stock’s fifty day moving average is $60.79 and its two-hundred day moving average is $57.79.

HDFC Bank (NYSE:HDB) last released its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 14.79% and a net margin of 14.69%. The firm had revenue of $14.03 billion during the quarter, compared to analyst estimates of $4.81 billion. On average, analysts anticipate that HDFC Bank Limited will post 2.88 EPS for the current year.

HDFC Bank Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, May 8th. Stockholders 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 dividend yield of 1%. This is a boost from HDFC Bank’s previous annual dividend of $0.59. HDFC Bank’s payout ratio is 18.40%.

Analysts Set New Price Targets

HDB has been the subject of a number of research analyst reports. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

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.