EverSource Wealth Advisors LLC Boosts Stake in HDFC Bank Limited (NYSE:HDB)

EverSource Wealth Advisors LLC raised its position in HDFC Bank Limited (NYSE:HDB) by 4,667.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,050 shares of the bank’s stock after purchasing an additional 2,007 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in HDFC Bank were worth $138,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of HDFC Bank by 51.6% in the third quarter. Wellington Management Group LLP now owns 2,457,211 shares of the bank’s stock valued at $145,000,000 after buying an additional 836,449 shares in the last quarter. Northern Trust Corp boosted its holdings in HDFC Bank by 13.1% during the 3rd quarter. Northern Trust Corp now owns 385,864 shares of the bank’s stock valued at $22,770,000 after acquiring an additional 44,648 shares during the period. Truist Financial Corp grew its position in HDFC Bank by 17.7% in the 4th quarter. Truist Financial Corp now owns 39,606 shares of the bank’s stock valued at $2,658,000 after acquiring an additional 5,953 shares in the last quarter. Martin Currie Ltd. increased its stake in HDFC Bank by 1.7% during the third quarter. Martin Currie Ltd. now owns 3,401,986 shares of the bank’s stock worth $200,751,000 after purchasing an additional 57,055 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of HDFC Bank during the fourth quarter worth about $1,818,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, May 10th.

HDFC Bank Stock Up 2.2 %

Shares of NYSE HDB opened at $58.00 on Friday. The stock has a market cap of $107.87 billion, a P/E ratio of 17.79, a PEG ratio of 1.09 and a beta of 0.85. The business’s fifty day simple moving average is $56.97 and its 200-day simple moving average is $58.48. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $71.39. The company has a current ratio of 0.40, a quick ratio of 0.52 and a debt-to-equity ratio of 1.78.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share 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, equities analysts predict that HDFC Bank Limited will post 3.1 EPS for the current fiscal year.

HDFC Bank Increases Dividend

The company also recently declared an annual dividend, which was paid on Wednesday, May 8th. Shareholders of record on Thursday, May 9th were issued a dividend of $0.7008 per share. This represents a yield of 1%. The ex-dividend date of this dividend was Wednesday, May 8th. This is a boost from HDFC Bank’s previous annual dividend of $0.59. HDFC Bank’s payout ratio is 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.