Van ECK Associates Corp Trims Holdings in HDFC Bank Limited (NYSE:HDB)

Van ECK Associates Corp reduced its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 51.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 188,913 shares of the bank’s stock after selling 196,322 shares during the period. Van ECK Associates Corp’s holdings in HDFC Bank were worth $10,573,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal London Asset Management Ltd. grew its position in HDFC Bank by 234.1% in the 4th quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank’s stock valued at $448,970,000 after buying an additional 4,687,487 shares during the last quarter. Harding Loevner LP boosted its holdings 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 purchasing an additional 2,276,203 shares in the last quarter. Brown Advisory Inc. increased its position in HDFC Bank by 82.9% during the 4th quarter. Brown Advisory Inc. now owns 4,589,266 shares of the bank’s stock worth $307,986,000 after purchasing an additional 2,079,942 shares during the period. Hardman Johnston Global Advisors LLC raised its stake in shares of HDFC Bank by 832.6% during the 4th quarter. Hardman Johnston Global Advisors LLC now owns 2,032,170 shares of the bank’s stock worth $136,379,000 after buying an additional 1,814,263 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of HDFC Bank by 69.9% in the 4th quarter. Wellington Management Group LLP now owns 4,174,807 shares of the bank’s stock valued at $280,171,000 after buying an additional 1,717,596 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 report on Thursday, June 13th.

HDFC Bank Price Performance

HDB stock traded down $4.83 during trading on Friday, reaching $61.81. 2,797,562 shares of the company were exchanged, compared to its average volume of 3,221,458. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $71.39. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40. The company has a market cap of $114.96 billion, a P/E ratio of 19.11, a PEG ratio of 1.25 and a beta of 0.93. The stock’s 50 day moving average price is $59.49 and its 200 day moving average price is $58.63.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, April 20th. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.71 by $0.13. HDFC Bank had a return on equity of 15.45% and a net margin of 15.71%. The business had revenue of $9.72 billion for the quarter. As a group, analysts predict that HDFC Bank Limited will post 3.1 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. Shareholders of record on Thursday, May 9th were issued a $0.7008 dividend. This is a positive change from HDFC Bank’s previous annual dividend of $0.59. The ex-dividend date was Wednesday, May 8th. This represents a yield of 1%. HDFC Bank’s dividend payout ratio 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.