Scotia Capital Inc. Reduces Holdings in HDFC Bank Limited (NYSE:HDB)

Scotia Capital Inc. cut its position in HDFC Bank Limited (NYSE:HDBFree Report) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,663 shares of the bank’s stock after selling 322 shares during the quarter. Scotia Capital Inc.’s holdings in HDFC Bank were worth $984,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of HDFC Bank during the third quarter worth approximately $27,000. NBC Securities Inc. acquired a new position in HDFC Bank in the 3rd quarter valued at $29,000. Frazier Financial Advisors LLC acquired a new position in HDFC Bank in the 4th quarter valued at $29,000. GAMMA Investing LLC acquired a new stake in shares of HDFC Bank in the 4th quarter worth $33,000. Finally, Parkside Financial Bank & Trust increased its stake in HDFC Bank by 89.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock valued at $41,000 after purchasing an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Report on HDB

HDFC Bank Stock Up 5.8 %

Shares of NYSE:HDB opened at $61.24 on Tuesday. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $71.39. The stock has a 50-day simple moving average of $57.32 and a 200-day simple moving average of $58.52. 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 has a market capitalization of $113.90 billion, a P/E ratio of 18.79, a PEG ratio of 1.08 and a beta of 0.91.

HDFC Bank (NYSE:HDBGet Free Report) last released 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 during the quarter. HDFC Bank had a net margin of 15.71% and a return on equity of 15.45%. Equities analysts forecast that HDFC Bank Limited will post 3.12 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. Stockholders of record on Thursday, May 9th were given a $0.7008 dividend. This is an increase from HDFC Bank’s previous annual dividend of $0.59. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a dividend yield of 1%. HDFC Bank’s dividend payout ratio is presently 18.40%.

HDFC Bank Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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