Daiwa Securities Group Inc. Boosts Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Daiwa Securities Group Inc. grew its position in shares of HDFC Bank Limited (NYSE:HDB) by 76.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,563 shares of the bank’s stock after purchasing an additional 1,538 shares during the quarter. Daiwa Securities Group Inc.’s holdings in HDFC Bank were worth $199,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its holdings in shares of HDFC Bank by 0.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 22,404 shares of the bank’s stock valued at $1,504,000 after purchasing an additional 183 shares in the last quarter. Endowment Wealth Management Inc. grew its stake in HDFC Bank by 4.6% in the 4th quarter. Endowment Wealth Management Inc. now owns 4,166 shares of the bank’s stock valued at $280,000 after acquiring an additional 184 shares during the period. Private Advisor Group LLC grew its stake in HDFC Bank by 2.3% in the 4th quarter. Private Advisor Group LLC now owns 9,853 shares of the bank’s stock valued at $661,000 after acquiring an additional 218 shares during the period. Verdence Capital Advisors LLC grew its stake in HDFC Bank by 2.6% in the 4th quarter. Verdence Capital Advisors LLC now owns 9,816 shares of the bank’s stock valued at $659,000 after acquiring an additional 253 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in HDFC Bank by 19.1% in the 4th quarter. First Horizon Advisors Inc. now owns 1,634 shares of the bank’s stock valued at $110,000 after acquiring an additional 262 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

HDFC Bank stock opened at $60.44 on Friday. The company’s fifty day moving average price is $59.82 and its 200 day moving average price is $58.40. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $71.39. The stock has a market capitalization of $112.41 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.28 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 earnings results 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 net margin of 15.71% and a return on equity of 15.45%. The company had revenue of $9.72 billion for the quarter. As a group, equities research analysts anticipate that HDFC Bank Limited will post 3.07 earnings per share 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 dividend of $0.7008 per share. This represents a yield of 1%. 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. HDFC Bank’s payout ratio is 18.40%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of 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.