Clearbridge Investments LLC Buys 591,348 Shares of HDFC Bank Limited (NYSE:HDB)

Clearbridge Investments LLC increased its stake in HDFC Bank Limited (NYSE:HDB) by 3,047.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 610,751 shares of the bank’s stock after acquiring an additional 591,348 shares during the quarter. Clearbridge Investments LLC’s holdings in HDFC Bank were worth $40,988,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HDB. Baillie Gifford & Co. increased its stake in shares of HDFC Bank by 183.8% in the 3rd quarter. Baillie Gifford & Co. now owns 9,560,478 shares of the bank’s stock valued at $564,164,000 after acquiring an additional 6,191,548 shares in the last quarter. Brown Advisory Inc. grew its position in HDFC Bank by 82.9% in the 4th quarter. Brown Advisory Inc. now owns 4,589,266 shares of the bank’s stock valued at $307,986,000 after purchasing an additional 2,079,942 shares during the period. Hardman Johnston Global Advisors LLC grew its position in HDFC Bank by 832.6% in the 4th quarter. Hardman Johnston Global Advisors LLC now owns 2,032,170 shares of the bank’s stock valued at $136,379,000 after purchasing an additional 1,814,263 shares during the period. Aikya Investment Management Ltd acquired a new stake in HDFC Bank in the 4th quarter valued at $77,036,000. Finally, Wellington Management Group LLP grew 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 purchasing an additional 836,449 shares during the period. Institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, May 10th.

HDFC Bank Stock Performance

NYSE HDB opened at $56.15 on Thursday. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $71.39. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.40 and a quick ratio of 0.52. The firm has a market cap of $104.42 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.05 and a beta of 0.85. The company has a fifty day moving average price of $56.89 and a 200-day moving average price of $58.47.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.13. HDFC Bank had a net margin of 15.71% and a return on equity of 15.45%. The firm had revenue of $9.72 billion during the quarter. As a group, equities research analysts predict that HDFC Bank Limited will post 3.1 EPS for the current fiscal 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 given a dividend of $0.7008 per share. The ex-dividend date was Wednesday, May 8th. This represents a yield of 1%. This is a positive change from HDFC Bank’s previous annual dividend of $0.59. HDFC Bank’s dividend payout ratio is presently 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.