Jupiter Asset Management Ltd. Buys 18,274 Shares of HDFC Bank Limited (NYSE:HDB)

Jupiter Asset Management Ltd. raised its position in shares of HDFC Bank Limited (NYSE:HDB) by 7.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 268,760 shares of the bank’s stock after acquiring an additional 18,274 shares during the period. Jupiter Asset Management Ltd.’s holdings in HDFC Bank were worth $15,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HDB. Breakout Capital Partners LP bought a new position in shares of HDFC Bank during the fourth quarter worth approximately $18,894,000. CIBC Private Wealth Group LLC lifted its position in shares of HDFC Bank by 2.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 929,921 shares of the bank’s stock valued at $62,407,000 after acquiring an additional 21,265 shares during the period. Truist Financial Corp grew its holdings in shares of HDFC Bank by 17.7% during the 4th quarter. Truist Financial Corp now owns 39,606 shares of the bank’s stock worth $2,658,000 after purchasing an additional 5,953 shares in the last quarter. Sei Investments Co. increased its position in shares of HDFC Bank by 0.8% in the fourth quarter. Sei Investments Co. now owns 1,661,176 shares of the bank’s stock worth $111,481,000 after purchasing an additional 13,610 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in HDFC Bank in the fourth quarter valued at about $1,818,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.

HDFC Bank Price Performance

Shares of HDB stock traded down $0.81 during trading hours on Friday, reaching $59.49. The company’s stock had a trading volume of 2,035,546 shares, compared to its average volume of 2,930,017. 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 $60.22 and its 200-day simple moving average is $58.11. The company has a quick ratio of 0.52, a current ratio of 0.40 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $110.65 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.27 and a beta of 0.93.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, April 20th. The bank reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.13. The business 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%. Sell-side analysts forecast that HDFC Bank Limited will post 3.07 earnings per share for the current year.

HDFC Bank Increases Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, May 8th. Investors of record on Thursday, May 9th were issued a dividend of $0.7008 per share. The ex-dividend date of this dividend was 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 18.40%.

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.