Earnest Partners LLC Acquires 103,917 Shares of HDFC Bank Limited (NYSE:HDB)

Earnest Partners LLC lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 9.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,249,070 shares of the bank’s stock after acquiring an additional 103,917 shares during the quarter. Earnest Partners LLC’s holdings in HDFC Bank were worth $69,910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GUARDCAP ASSET MANAGEMENT Ltd grew its stake in HDFC Bank by 4.4% in the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 77,350 shares of the bank’s stock worth $4,329,000 after purchasing an additional 3,275 shares during the period. LRI Investments LLC purchased a new stake in HDFC Bank in the first quarter worth $125,000. 1832 Asset Management L.P. grew its stake in HDFC Bank by 18.5% in the first quarter. 1832 Asset Management L.P. now owns 1,342,736 shares of the bank’s stock worth $75,153,000 after purchasing an additional 209,783 shares during the period. Cloverfields Capital Group LP grew its stake in HDFC Bank by 14.7% in the first quarter. Cloverfields Capital Group LP now owns 24,345 shares of the bank’s stock worth $1,363,000 after purchasing an additional 3,126 shares during the period. Finally, Capital World Investors grew its stake in HDFC Bank by 208.6% in the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock worth $230,862,000 after purchasing an additional 2,788,197 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Down 0.8 %

Shares of NYSE HDB traded down $0.51 during trading on Monday, reaching $60.13. The company had a trading volume of 897,861 shares, compared to its average volume of 3,134,507. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $69.03. The stock has a market cap of $111.84 billion, a PE ratio of 18.52, a P/E/G ratio of 1.66 and a beta of 0.92. The business’s 50-day moving average is $60.65 and its 200 day moving average is $57.87. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37.

HDFC Bank (NYSE:HDB) last released its earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.81 billion. As a group, equities analysts forecast 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. Investors of record on Thursday, May 9th were given a dividend of $0.7008 per share. 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. This represents a dividend yield of 1%. HDFC Bank’s dividend payout ratio (DPR) is 18.40%.

Analysts Set New Price Targets

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

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.