Price T Rowe Associates Inc. MD Has $123.09 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

Price T Rowe Associates Inc. MD lessened its stake in HDFC Bank Limited (NYSE:HDB) by 4.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,199,257 shares of the bank’s stock after selling 109,189 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in HDFC Bank were worth $123,094,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. FIL Ltd increased its holdings in HDFC Bank by 10.8% during the 4th quarter. FIL Ltd now owns 13,594,291 shares of the bank’s stock worth $912,313,000 after purchasing an additional 1,326,574 shares in the last quarter. Baillie Gifford & Co. raised its position in HDFC Bank by 16.9% in the 1st quarter. Baillie Gifford & Co. now owns 11,269,525 shares of the bank’s stock valued at $630,755,000 after buying an additional 1,632,542 shares during the last quarter. Harding Loevner LP lifted its stake in HDFC Bank by 31.7% in the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after acquiring an additional 2,276,203 shares in the last quarter. Sustainable Growth Advisers LP boosted its position in HDFC Bank by 24.1% during the 1st quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock worth $493,884,000 after acquiring an additional 1,711,784 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of HDFC Bank by 1.6% during the 4th quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank’s stock worth $581,679,000 after acquiring an additional 133,791 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HDB. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

HDFC Bank Stock Down 0.6 %

HDB stock traded down $0.35 during mid-day trading on Monday, reaching $60.29. The company had a trading volume of 243,044 shares, compared to its average volume of 3,130,616. The company has a market capitalization of $112.13 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.66 and a beta of 0.92. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $69.03. The stock has a 50 day simple moving average of $60.65 and a two-hundred day simple moving average of $57.87. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51.

HDFC Bank (NYSE:HDB) last issued its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 14.79%. As a group, equities analysts predict that HDFC Bank Limited will post 2.88 earnings per share for the current fiscal year.

HDFC Bank Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, May 8th. Investors of record on Thursday, May 9th were paid a $0.7008 dividend. This is an increase from HDFC Bank’s previous annual dividend of $0.59. This represents a yield of 1%. The ex-dividend date was Wednesday, May 8th. HDFC Bank’s dividend payout ratio (DPR) 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.