Legacy Wealth Asset Management LLC Buys 6,857 Shares of HDFC Bank Limited (NYSE:HDB)

Legacy Wealth Asset Management LLC raised its stake in shares of HDFC Bank Limited (NYSE:HDB) by 24.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 35,003 shares of the bank’s stock after purchasing an additional 6,857 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in HDFC Bank were worth $1,959,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new position in HDFC Bank in the fourth quarter valued at about $29,000. GAMMA Investing LLC acquired a new position in HDFC Bank in the fourth quarter valued at about $33,000. Northwest Investment Counselors LLC acquired a new position in HDFC Bank in the first quarter valued at about $34,000. Parkside Financial Bank & Trust boosted its position in HDFC Bank by 89.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock valued at $41,000 after buying an additional 291 shares in the last quarter. Finally, Janiczek Wealth Management LLC acquired a new position in HDFC Bank in the first quarter valued at about $35,000. Institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

HDFC Bank Price Performance

Shares of NYSE HDB traded down $0.33 during trading on Thursday, reaching $66.64. The company had a trading volume of 2,314,936 shares, compared to its average volume of 2,827,470. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $71.39. The stock has a market cap of $123.94 billion, a PE ratio of 20.44, a PEG ratio of 1.25 and a beta of 0.93. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40. The business’s 50 day moving average price is $59.33 and its 200-day moving average price is $58.57.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.13. HDFC Bank had a net margin of 15.71% and a return on equity of 15.45%. The company had revenue of $9.72 billion during the quarter. Analysts expect that HDFC Bank Limited will post 3.1 earnings per share for the current year.

HDFC Bank Increases Dividend

The business also recently announced an annual dividend, which was paid on Wednesday, May 8th. Shareholders of record on Thursday, May 9th were paid a $0.7008 dividend. The ex-dividend date was Wednesday, May 8th. This is an increase from HDFC Bank’s previous annual dividend of $0.59. This represents a dividend yield of 1%. HDFC Bank’s payout ratio is currently 18.40%.

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.