First Trust Advisors LP Sells 78,905 Shares of HDFC Bank Limited (NYSE:HDB)

Posted by Defense World Staff on May 26th, 2023

First Trust Advisors LP lowered its stake in HDFC Bank Limited (NYSE:HDB – Get Rating) by 41.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 113,459 shares of the bank’s stock after selling 78,905 shares during the quarter. First Trust Advisors LP’s holdings in HDFC Bank were worth $7,761,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of HDB. Jennison Associates LLC increased its holdings in HDFC Bank by 122.5% during the fourth quarter. Jennison Associates LLC now owns 6,693,510 shares of the bank’s stock worth $457,903,000 after buying an additional 3,684,635 shares during the last quarter. Lone Pine Capital LLC bought a new stake in shares of HDFC Bank in the third quarter valued at about $129,868,000. BlackRock Inc. lifted its position in HDFC Bank by 57.1% during the first quarter. BlackRock Inc. now owns 4,838,182 shares of the bank’s stock worth $296,725,000 after purchasing an additional 1,757,638 shares during the period. CCLA Investment Management bought a new stake in HDFC Bank during the third quarter worth about $98,820,000. Finally, Sands Capital Management LLC lifted its position in HDFC Bank by 48.6% during the third quarter. Sands Capital Management LLC now owns 3,160,823 shares of the bank’s stock worth $184,655,000 after purchasing an additional 1,033,155 shares during the period. Institutional investors own 17.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of HDFC Bank in a report on Thursday, May 18th. They issued a “hold” rating for the company.

HDFC Bank Stock Performance

HDFC Bank stock opened at $64.38 on Friday. The business has a 50 day moving average of $67.37 and a 200-day moving average of $67.62. HDFC Bank Limited has a 1 year low of $51.04 and a 1 year high of $71.76. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.32 and a quick ratio of 0.36. The company has a market capitalization of $119.01 billion, a P/E ratio of 21.04, a P/E/G ratio of 0.96 and a beta of 0.75.

HDFC Bank Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, May 12th. Shareholders of record on Monday, May 15th were given a dividend of $0.5935 per share. This represents a yield of 0.9%. The ex-dividend date of this dividend was Friday, May 12th. This is an increase from HDFC Bank’s previous annual dividend of $0.58. HDFC Bank’s dividend payout ratio is currently 19.28%.

HDFC Bank Company Profile

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HDFC Bank Ltd. engages in the provision of banking and financial services, including commercial banking and treasury operations. The firm also provides financial services to upper and middle income individuals and corporations in India. It operates through the following segments: Treasury, Retail Banking, Wholesale Banking and Other Banking Operations.