Todd Asset Management LLC Trims Stake in HDFC Bank Limited (NYSE:HDB)

Todd Asset Management LLC lessened its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 283,139 shares of the bank’s stock after selling 53,038 shares during the quarter. Todd Asset Management LLC’s holdings in HDFC Bank were worth $19,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in HDFC Bank by 51.6% in the third quarter. Wellington Management Group LLP now owns 2,457,211 shares of the bank’s stock worth $145,000,000 after buying an additional 836,449 shares in the last quarter. Northern Trust Corp raised its stake in HDFC Bank by 13.1% during the 3rd quarter. Northern Trust Corp now owns 385,864 shares of the bank’s stock worth $22,770,000 after acquiring an additional 44,648 shares during the period. Martin Currie Ltd. lifted its holdings in HDFC Bank by 1.7% during the third quarter. Martin Currie Ltd. now owns 3,401,986 shares of the bank’s stock valued at $200,751,000 after purchasing an additional 57,055 shares in the last quarter. Citigroup Inc. boosted its position in shares of HDFC Bank by 1,193.0% in the third quarter. Citigroup Inc. now owns 749,586 shares of the bank’s stock worth $44,233,000 after purchasing an additional 691,615 shares during the period. Finally, Aikya Investment Management Ltd purchased a new stake in shares of HDFC Bank in the fourth quarter worth $77,036,000. 17.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Monday, April 22nd.

HDFC Bank Price Performance

NYSE HDB traded down $0.36 during trading hours on Friday, reaching $58.51. The company’s stock had a trading volume of 3,785,443 shares, compared to its average volume of 2,615,206. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $71.39. The company has a quick ratio of 0.52, a current ratio of 0.40 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $108.82 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.10 and a beta of 0.85. The firm’s 50-day moving average price is $56.60 and its 200-day moving average price is $58.55.

HDFC Bank Increases Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, May 8th. Investors of record on Thursday, May 9th will be given a dividend of $0.7008 per share. This is a positive change from HDFC Bank’s previous annual dividend of $0.59. The ex-dividend date is Wednesday, May 8th. This represents a dividend yield of 1%. HDFC Bank’s dividend payout ratio is currently 17.79%.

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.