5,261 Shares in HDFC Bank Limited (NYSE:HDB) Purchased by New Century Financial Group LLC

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

Several other hedge funds have also recently added to or reduced their stakes in the business. Royal London Asset Management Ltd. raised its stake in HDFC Bank by 234.1% in 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 purchasing an additional 4,687,487 shares during the last quarter. Harding Loevner LP lifted its stake in shares of HDFC Bank by 31.7% during the fourth quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after buying an additional 2,276,203 shares during the period. Brown Advisory Inc. boosted its position in HDFC Bank by 82.9% during the fourth quarter. Brown Advisory Inc. now owns 4,589,266 shares of the bank’s stock worth $307,986,000 after acquiring an additional 2,079,942 shares during the last quarter. Hardman Johnston Global Advisors LLC grew its stake in HDFC Bank by 832.6% in the 4th quarter. Hardman Johnston Global Advisors LLC now owns 2,032,170 shares of the bank’s stock worth $136,379,000 after acquiring an additional 1,814,263 shares during the period. Finally, Wellington Management Group LLP raised its holdings in HDFC Bank by 69.9% in 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 last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

HDB opened at $66.64 on Friday. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $71.39. The company’s 50 day simple moving average is $59.49 and its 200 day simple moving average is $58.63. The stock has a market capitalization of $123.94 billion, a PE ratio of 20.44, a P/E/G ratio of 1.25 and a beta of 0.93. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40.

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 the consensus estimate of $0.71 by $0.13. The company had revenue of $9.72 billion during the quarter. HDFC Bank had a net margin of 15.71% and a return on equity of 15.45%. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.1 EPS for the current year.

HDFC Bank Increases Dividend

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

Analysts Set New Price Targets

Separately, StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a report 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.