HDFC Bank Limited (NYSE:HDB) Shares Sold by Origin Asset Management LLP

Origin Asset Management LLP trimmed its stake in HDFC Bank Limited (NYSE:HDB) by 56.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,700 shares of the bank’s stock after selling 19,065 shares during the quarter. HDFC Bank comprises about 0.3% of Origin Asset Management LLP’s portfolio, making the stock its 9th largest position. Origin Asset Management LLP’s holdings in HDFC Bank were worth $987,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. bought a new position in HDFC Bank during the 4th quarter worth approximately $277,000. Summit Global Investments grew its position in shares of HDFC Bank by 3.9% during the fourth quarter. Summit Global Investments now owns 76,694 shares of the bank’s stock worth $5,147,000 after acquiring an additional 2,862 shares during the last quarter. Natixis Advisors L.P. increased its holdings in shares of HDFC Bank by 12.5% in the 4th quarter. Natixis Advisors L.P. now owns 1,775,664 shares of the bank’s stock worth $119,164,000 after acquiring an additional 196,698 shares during the period. First Horizon Advisors Inc. grew its position in HDFC Bank by 19.1% in the 4th quarter. First Horizon Advisors Inc. now owns 1,634 shares of the bank’s stock worth $110,000 after purchasing an additional 262 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in shares of HDFC Bank by 71.9% during the fourth quarter. First Trust Direct Indexing L.P. now owns 30,227 shares of the bank’s stock worth $2,029,000 after buying an additional 12,648 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

HDFC Bank Price Performance

NYSE HDB traded up $0.73 on Thursday, reaching $58.87. 1,754,448 shares of the stock traded hands, compared to its average volume of 3,477,110. The firm’s fifty day simple moving average is $56.42 and its 200 day simple moving average is $58.55. The company has a market cap of $109.49 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.08 and a beta of 0.85. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $71.39. The company has a quick ratio of 0.52, a current ratio of 0.40 and a debt-to-equity ratio of 1.78.

HDFC Bank Increases Dividend

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

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.