HDFC Bank Limited (NYSE:HDB) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in HDFC Bank Limited (NYSE:HDB) by 185.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,169 shares of the bank’s stock after purchasing an additional 40,369 shares during the quarter. PNC Financial Services Group Inc.’s holdings in HDFC Bank were worth $4,172,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in HDFC Bank by 5.1% in the 3rd quarter. Morgan Stanley now owns 14,886,302 shares of the bank’s stock valued at $878,441,000 after purchasing an additional 723,106 shares during the last quarter. FIL Ltd increased its stake in shares of HDFC Bank by 10.8% in the 4th quarter. FIL Ltd now owns 13,594,291 shares of the bank’s stock worth $912,313,000 after acquiring an additional 1,326,574 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of HDFC Bank by 0.8% in the 4th quarter. Baillie Gifford & Co. now owns 9,636,983 shares of the bank’s stock worth $646,738,000 after acquiring an additional 76,505 shares during the last quarter. Harding Loevner LP increased its stake in shares of HDFC Bank by 31.7% in the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock worth $621,646,000 after acquiring an additional 2,276,203 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of HDFC Bank by 4.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,772,331 shares of the bank’s stock worth $516,561,000 after acquiring an additional 410,884 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank Stock Up 1.2 %

Shares of HDB opened at $61.65 on Wednesday. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $71.39. The company has a market capitalization of $114.66 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.13 and a beta of 0.91. The stock has a fifty day simple moving average of $57.83 and a two-hundred day simple moving average of $58.53. The company has a quick ratio of 0.52, a current ratio of 0.40 and a debt-to-equity ratio of 1.78.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.13. The business had revenue of $9.72 billion during the quarter. HDFC Bank had a return on equity of 15.45% and a net margin of 15.71%. As a group, equities analysts forecast that HDFC Bank Limited will post 3.12 EPS for the current year.

HDFC Bank Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, May 8th. Stockholders of record on Thursday, May 9th were issued 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 is currently 18.40%.

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.