First Trust Direct Indexing L.P. Reduces Position in HDFC Bank Limited (NYSE:HDB)

First Trust Direct Indexing L.P. reduced its stake in HDFC Bank Limited (NYSE:HDB) by 26.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,086 shares of the bank’s stock after selling 8,141 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in HDFC Bank were worth $1,236,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Norden Group LLC acquired a new position in HDFC Bank in the 1st quarter valued at about $511,000. Naviter Wealth LLC lifted its stake in shares of HDFC Bank by 68.7% during the first quarter. Naviter Wealth LLC now owns 33,202 shares of the bank’s stock valued at $1,858,000 after buying an additional 13,517 shares during the period. Allspring Global Investments Holdings LLC grew its stake in HDFC Bank by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,385,763 shares of the bank’s stock worth $133,531,000 after acquiring an additional 40,559 shares during the period. Deltec Asset Management LLC raised its holdings in HDFC Bank by 13.8% in the 1st quarter. Deltec Asset Management LLC now owns 51,850 shares of the bank’s stock valued at $2,902,000 after acquiring an additional 6,300 shares during the last quarter. Finally, D.B. Root & Company LLC purchased a new position in shares of HDFC Bank during the 1st quarter worth $456,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Down 0.5 %

Shares of HDB opened at $66.64 on Friday. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $71.39. The company’s fifty day moving average is $59.49 and its two-hundred day moving average is $58.63. The firm has a market cap of $123.94 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.25 and a beta of 0.93. 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 posted its quarterly earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.13. HDFC Bank had a return on equity of 15.45% and a net margin of 15.71%. The firm had revenue of $9.72 billion during the quarter. Analysts forecast that HDFC Bank Limited will post 3.1 earnings per share for the current year.

HDFC Bank Increases Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, May 8th. Shareholders of record on Thursday, May 9th were issued a $0.7008 dividend. This represents a yield of 1%. The ex-dividend date 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%.

Analyst Ratings Changes

Separately, StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note 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.