Earnest Partners LLC raised its stake in HDFC Bank Limited (NYSE:HDB) by 21.6% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,124,311 shares of the bank’s stock after buying an additional 377,992 shares during the period. HDFC Bank Limited accounts for 1.7% of Earnest Partners LLC’s portfolio, making the stock its 8th largest position. Earnest Partners LLC’s holdings in HDFC Bank Limited were worth $159,791,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of HDB. Parallel Advisors LLC boosted its stake in HDFC Bank Limited by 17.1% in the first quarter. Parallel Advisors LLC now owns 1,280 shares of the bank’s stock valued at $104,000 after buying an additional 187 shares during the period. Creative Planning boosted its stake in HDFC Bank Limited by 6.3% in the first quarter. Creative Planning now owns 1,700 shares of the bank’s stock valued at $128,000 after buying an additional 100 shares during the period. Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in HDFC Bank Limited during the first quarter valued at about $201,000. Arxis Securities LLC acquired a new stake in HDFC Bank Limited during the first quarter valued at about $240,000. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in HDFC Bank Limited by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,290 shares of the bank’s stock valued at $247,000 after buying an additional 76 shares during the period. 18.66% of the stock is owned by institutional investors.
Shares of HDFC Bank Limited (HDB) traded down 0.11% during midday trading on Friday, hitting $88.61. The stock had a trading volume of 1,699,367 shares. The stock has a 50-day moving average price of $85.18 and a 200-day moving average price of $73.30. HDFC Bank Limited has a 12-month low of $59.00 and a 12-month high of $89.84. The stock has a market cap of $451.85 billion, a P/E ratio of 193.05 and a beta of 0.93.
The company also recently disclosed an annual dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 29th will be issued a dividend of $0.493 per share. The ex-dividend date is Tuesday, June 27th. HDFC Bank Limited’s payout ratio is 18.10%.
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HDB has been the subject of several recent analyst reports. Zacks Investment Research raised HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Thursday, June 1st. Morgan Stanley cut HDFC Bank Limited from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 21st.
About HDFC Bank Limited
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.
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