New Century Financial Group LLC Makes New Investment in HDFC Bank Limited (NYSE:HDB)

New Century Financial Group LLC purchased a new stake in HDFC Bank Limited (NYSE:HDB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,261 shares of the bank’s stock, valued at approximately $294,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Frazier Financial Advisors LLC bought a new stake in HDFC Bank during the 4th quarter valued at approximately $29,000. GAMMA Investing LLC bought a new stake in shares of HDFC Bank in the fourth quarter valued at approximately $33,000. Northwest Investment Counselors LLC acquired a new stake in shares of HDFC Bank in the first quarter worth $34,000. Janiczek Wealth Management LLC bought a new position in HDFC Bank during the first quarter worth $35,000. Finally, Parkside Financial Bank & Trust raised its stake in HDFC Bank by 89.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock valued at $41,000 after purchasing an additional 291 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

HDFC Bank Trading Down 0.5 %

HDFC Bank stock opened at $66.64 on Friday. The business has a 50 day moving average price of $59.49 and a two-hundred day moving average price of $58.63. 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 Limited has a 12 month low of $52.16 and a 12 month high of $71.39. The stock has a market cap of $123.94 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 1.25 and a beta of 0.93.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data 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 net margin of 15.71% and a return on equity of 15.45%. The company had revenue of $9.72 billion during the quarter. As a group, equities analysts forecast that HDFC Bank Limited will post 3.1 EPS for the current year.

HDFC Bank Increases Dividend

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

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.