Todd Asset Management LLC Sells 53,038 Shares of HDFC Bank Limited (NYSE:HDB)

Todd Asset Management LLC trimmed its position in shares of HDFC Bank Limited (NYSE:HDB) by 15.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 283,139 shares of the bank’s stock after selling 53,038 shares during the quarter. Todd Asset Management LLC’s holdings in HDFC Bank were worth $19,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in HDFC Bank by 51.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,457,211 shares of the bank’s stock valued at $145,000,000 after acquiring an additional 836,449 shares during the period. Northern Trust Corp increased its holdings in HDFC Bank by 13.1% in the third quarter. Northern Trust Corp now owns 385,864 shares of the bank’s stock valued at $22,770,000 after purchasing an additional 44,648 shares during the period. Martin Currie Ltd. raised its position in HDFC Bank by 1.7% during the 3rd quarter. Martin Currie Ltd. now owns 3,401,986 shares of the bank’s stock worth $200,751,000 after purchasing an additional 57,055 shares during the last quarter. Citigroup Inc. lifted its holdings in HDFC Bank by 1,193.0% during the 3rd quarter. Citigroup Inc. now owns 749,586 shares of the bank’s stock worth $44,233,000 after buying an additional 691,615 shares during the period. Finally, Aikya Investment Management Ltd bought a new stake in shares of HDFC Bank in the 4th quarter valued at about $77,036,000. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Down 0.6 %

Shares of HDB stock traded down $0.36 during trading hours on Friday, reaching $58.51. The company had a trading volume of 3,785,443 shares, compared to its average volume of 2,615,206. The company has a market cap of $108.82 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.10 and a beta of 0.85. 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 Limited has a 12 month low of $52.16 and a 12 month high of $71.39. The business has a fifty day simple moving average of $56.60 and a 200-day simple moving average of $58.55.

HDFC Bank Increases Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, May 8th. Investors of record on Thursday, May 9th will be given a dividend of $0.7008 per share. 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 (DPR) is presently 17.79%.

Analyst Ratings Changes

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

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.