Mather Group LLC. Buys New Position in HDFC Bank Limited (NYSE:HDB)

Mather Group LLC. purchased a new position in HDFC Bank Limited (NYSE:HDB) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,442 shares of the bank’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Morgan Stanley raised its position in shares of HDFC Bank by 5.1% during the third quarter. Morgan Stanley now owns 14,886,302 shares of the bank’s stock worth $878,441,000 after purchasing an additional 723,106 shares during the period. Baillie Gifford & Co. raised its holdings in HDFC Bank by 0.8% during the 4th quarter. Baillie Gifford & Co. now owns 9,636,983 shares of the bank’s stock worth $646,738,000 after buying an additional 76,505 shares during the period. Ameriprise Financial Inc. lifted its stake in HDFC Bank by 4.9% during the third quarter. Ameriprise Financial Inc. now owns 8,772,331 shares of the bank’s stock valued at $516,561,000 after buying an additional 410,884 shares in the last quarter. Sustainable Growth Advisers LP boosted its holdings in shares of HDFC Bank by 2.2% in the third quarter. Sustainable Growth Advisers LP now owns 6,933,843 shares of the bank’s stock worth $409,166,000 after buying an additional 146,980 shares during the period. Finally, Impax Asset Management Group plc increased its position in shares of HDFC Bank by 2.9% in the fourth quarter. Impax Asset Management Group plc now owns 5,771,491 shares of the bank’s stock worth $386,431,000 after acquiring an additional 160,220 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

HDFC Bank Stock Down 0.6 %

Shares of HDFC Bank stock opened at $58.51 on Friday. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $71.39. The company has a market cap of $108.82 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.09 and a beta of 0.85. The company has a current ratio of 0.40, a quick ratio of 0.52 and a debt-to-equity ratio of 1.78. The stock has a 50-day moving average price of $56.51 and a 200 day moving average price of $58.55.

HDFC Bank Increases Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Thursday, May 9th will be given a $0.7008 dividend. This represents a dividend yield of 1%. This is a positive change from HDFC Bank’s previous annual dividend of $0.59. The ex-dividend date is Wednesday, May 8th. HDFC Bank’s dividend payout ratio is 18.10%.

HDFC Bank Company 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.