FORA Capital LLC Raises Stock Holdings in HDFC Bank Limited (NYSE:HDB)

FORA Capital LLC boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 20.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 41,815 shares of the bank’s stock after purchasing an additional 7,217 shares during the period. FORA Capital LLC’s holdings in HDFC Bank were worth $2,340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. grew its position in shares of HDFC Bank by 234.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank’s stock valued at $448,970,000 after acquiring an additional 4,687,487 shares during the period. Harding Loevner LP grew its position in shares of HDFC Bank by 31.7% during the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after acquiring an additional 2,276,203 shares during the period. Brown Advisory Inc. grew its position in shares of HDFC Bank by 82.9% during the 4th quarter. Brown Advisory Inc. now owns 4,589,266 shares of the bank’s stock valued at $307,986,000 after acquiring an additional 2,079,942 shares during the period. Hardman Johnston Global Advisors LLC grew its position in shares of HDFC Bank by 832.6% during the 4th quarter. Hardman Johnston Global Advisors LLC now owns 2,032,170 shares of the bank’s stock valued at $136,379,000 after acquiring an additional 1,814,263 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of HDFC Bank by 69.9% during the 4th quarter. Wellington Management Group LLP now owns 4,174,807 shares of the bank’s stock valued at $280,171,000 after acquiring an additional 1,717,596 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Price Performance

HDB stock traded up $0.08 during trading on Tuesday, hitting $62.00. The stock had a trading volume of 432,360 shares, compared to its average volume of 3,210,330. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.40 and a quick ratio of 0.52. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $71.39. The stock has a market capitalization of $115.31 billion, a P/E ratio of 19.04, a PEG ratio of 1.16 and a beta of 0.93. The company’s 50-day moving average price is $59.64 and its two-hundred day moving average price is $58.46.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, April 20th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.13. HDFC Bank had a return on equity of 15.45% and a net margin of 15.71%. The company had revenue of $9.72 billion for the quarter. As a group, research analysts predict that HDFC Bank Limited will post 3.1 EPS for the current fiscal year.

HDFC Bank Increases Dividend

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

Analyst Upgrades and Downgrades

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

About HDFC Bank

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.