Vestmark Advisory Solutions Inc. Boosts Stake in HDFC Bank Limited (NYSE:HDB)

Vestmark Advisory Solutions Inc. boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 16.1% in the 4th quarter, Holdings Channel reports. The fund owned 31,743 shares of the bank’s stock after acquiring an additional 4,410 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in HDFC Bank were worth $2,130,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HDB. Sapient Capital LLC purchased a new position in HDFC Bank during the fourth quarter worth approximately $263,000. M&T Bank Corp raised its holdings in shares of HDFC Bank by 32.0% during the 4th quarter. M&T Bank Corp now owns 61,632 shares of the bank’s stock worth $4,136,000 after acquiring an additional 14,939 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in shares of HDFC Bank during the 4th quarter valued at about $277,000. Summit Global Investments grew its holdings in shares of HDFC Bank by 3.9% in the fourth quarter. Summit Global Investments now owns 76,694 shares of the bank’s stock valued at $5,147,000 after purchasing an additional 2,862 shares during the period. Finally, Natixis Advisors L.P. grew its holdings in shares of HDFC Bank by 12.5% in the fourth quarter. Natixis Advisors L.P. now owns 1,775,664 shares of the bank’s stock valued at $119,164,000 after purchasing an additional 196,698 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analysts Set New Price Targets

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

HDFC Bank Trading Down 0.6 %

Shares of NYSE:HDB traded down $0.36 during midday trading on Friday, reaching $58.51. 3,785,443 shares of the company’s stock were exchanged, compared to its average volume of 2,615,206. The stock has a market cap of $108.82 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 1.10 and a beta of 0.85. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $71.39. The firm’s 50 day simple moving average is $56.60 and its two-hundred day simple moving average is $58.55. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.40 and a quick ratio of 0.52.

HDFC Bank Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Thursday, May 9th will be issued a $0.7008 dividend. 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 of this dividend is Wednesday, May 8th. HDFC Bank’s dividend payout ratio is currently 17.79%.

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.