Pinebridge Investments L.P. Increases Stock Position in HDFC Bank Limited (NYSE:HDB)

Pinebridge Investments L.P. boosted its stake in HDFC Bank Limited (NYSE:HDBGet Rating) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,962 shares of the bank’s stock after acquiring an additional 1,507 shares during the period. Pinebridge Investments L.P.’s holdings in HDFC Bank were worth $3,967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Steadfast Capital Management UK Ltd. purchased a new stake in shares of HDFC Bank in the third quarter valued at about $3,069,000. Asset Management One Co. Ltd. raised its holdings in shares of HDFC Bank by 10.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 26,471 shares of the bank’s stock valued at $1,693,000 after buying an additional 2,400 shares during the last quarter. Titan Global Capital Management USA LLC raised its holdings in shares of HDFC Bank by 57.7% in the third quarter. Titan Global Capital Management USA LLC now owns 37,529 shares of the bank’s stock valued at $2,743,000 after buying an additional 13,733 shares during the last quarter. UMB Bank N A MO purchased a new stake in shares of HDFC Bank in the fourth quarter valued at about $213,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of HDFC Bank in the fourth quarter valued at about $39,222,000. 17.50% of the stock is owned by hedge funds and other institutional investors.

NYSE HDB opened at $53.12 on Friday. The stock has a market capitalization of $97.61 billion, a P/E ratio of 19.32, a P/E/G ratio of 0.75 and a beta of 0.78. HDFC Bank Limited has a 52-week low of $50.61 and a 52-week high of $79.39. The firm has a 50-day moving average price of $58.44 and a 200 day moving average price of $64.36. The company has a quick ratio of 0.39, a current ratio of 0.08 and a debt-to-equity ratio of 0.98.

The business also recently announced an annual dividend, which was paid on Thursday, May 12th. Shareholders of record on Thursday, May 12th were given a dividend of $0.522 per share. This is a positive change from HDFC Bank’s previous annual dividend of $0.21. This represents a yield of 0.93%. The ex-dividend date of this dividend was Wednesday, May 11th. HDFC Bank’s dividend payout ratio is presently 18.91%.

HDB has been the subject of several analyst reports. Zacks Investment Research raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. StockNews.com initiated coverage on shares of HDFC Bank in a report on Thursday, March 31st. They set a “hold” rating for the company.

HDFC Bank Profile (Get Rating)

HDFC Bank Limited provides various banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. It operates in Treasury, Retail Banking, Wholesale Banking, Other Banking Business, and Unallocated segments. The company 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, overdrafts against fixed deposits, and sweep-in facilities.

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Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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