M&T Bank Corp Purchases 14,939 Shares of HDFC Bank Limited (NYSE:HDB)

M&T Bank Corp boosted its position in HDFC Bank Limited (NYSE:HDB) by 32.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,632 shares of the bank’s stock after acquiring an additional 14,939 shares during the quarter. M&T Bank Corp’s holdings in HDFC Bank were worth $4,136,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in HDB. Skandinaviska Enskilda Banken AB publ bought a new position in HDFC Bank in the third quarter valued at $27,000. NBC Securities Inc. bought a new position in shares of HDFC Bank during the third quarter valued at about $29,000. GAMMA Investing LLC bought a new position in shares of HDFC Bank during the fourth quarter valued at about $33,000. Parkside Financial Bank & Trust grew its stake in shares of HDFC Bank by 89.8% during 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 during the last quarter. Finally, Signaturefd LLC grew its stake in shares of HDFC Bank by 44.7% during the third quarter. Signaturefd LLC now owns 848 shares of the bank’s stock valued at $50,000 after buying an additional 262 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

HDFC Bank stock opened at $56.76 on Wednesday. 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 firm has a 50-day moving average of $56.74 and a 200-day moving average of $58.56. The firm has a market cap of $105.57 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.10 and a beta of 0.85. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $71.39.

HDFC Bank Increases Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.7008 per share. This is a positive change from HDFC Bank’s previous annual dividend of $0.59. This represents a dividend yield of 1%. The ex-dividend date is Wednesday, May 8th. HDFC Bank’s dividend payout ratio is currently 17.79%.

Wall Street Analyst Weigh In

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

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.