Rehmann Capital Advisory Group Decreases Position in HDFC Bank Limited (NYSE:HDB)

Rehmann Capital Advisory Group decreased its position in HDFC Bank Limited (NYSE:HDB) by 16.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,621 shares of the bank’s stock after selling 2,777 shares during the period. Rehmann Capital Advisory Group’s holdings in HDFC Bank were worth $762,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HDB. Frazier Financial Advisors LLC acquired a new position in HDFC Bank during the fourth quarter worth about $29,000. GAMMA Investing LLC acquired a new position in shares of HDFC Bank during the 4th quarter worth approximately $33,000. Northwest Investment Counselors LLC purchased a new stake in HDFC Bank in the 1st quarter valued at approximately $34,000. Parkside Financial Bank & Trust grew its holdings in HDFC Bank by 89.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock valued at $41,000 after buying an additional 291 shares during the last quarter. Finally, Janiczek Wealth Management LLC acquired a new position in shares of HDFC Bank in the first quarter worth $35,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

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

HDFC Bank Stock Down 1.3 %

Shares of HDB stock traded down $0.80 on Wednesday, hitting $60.49. The stock had a trading volume of 1,668,369 shares, compared to its average volume of 3,221,830. 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 stock’s 50 day moving average is $59.71 and its 200-day moving average is $58.42. The firm has a market capitalization of $112.51 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 1.16 and a beta of 0.93. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $71.39.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, April 20th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.13. The company had revenue of $9.72 billion for the quarter. HDFC Bank had a return on equity of 15.45% and a net margin of 15.71%. As a group, research 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 disclosed an annual dividend, which was paid on Wednesday, May 8th. Shareholders of record on Thursday, May 9th were paid a dividend of $0.7008 per share. This represents a yield of 1%. This is an increase from HDFC Bank’s previous annual dividend of $0.59. The ex-dividend date was Wednesday, May 8th. HDFC Bank’s dividend payout ratio is 18.40%.

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.