Pzena Investment Management LLC Purchases 477 Shares of HDFC Bank Limited (NYSE:HDB)

Pzena Investment Management LLC grew its position in HDFC Bank Limited (NYSE:HDB) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 284,060 shares of the bank’s stock after purchasing an additional 477 shares during the quarter. Pzena Investment Management LLC’s holdings in HDFC Bank were worth $15,899,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of HDB. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of HDFC Bank during the 1st quarter valued at $727,000. Whittier Trust Co. lifted its position in shares of HDFC Bank by 12.2% during the 1st quarter. Whittier Trust Co. now owns 12,682 shares of the bank’s stock valued at $710,000 after acquiring an additional 1,377 shares during the period. FORA Capital LLC lifted its position in shares of HDFC Bank by 20.9% during the 1st quarter. FORA Capital LLC now owns 41,815 shares of the bank’s stock valued at $2,340,000 after acquiring an additional 7,217 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of HDFC Bank by 76.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,563 shares of the bank’s stock valued at $199,000 after acquiring an additional 1,538 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of HDFC Bank by 3.1% during the 1st quarter. Nordea Investment Management AB now owns 296,446 shares of the bank’s stock valued at $16,542,000 after acquiring an additional 8,946 shares during the period. 17.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

HDFC Bank Stock Down 1.5 %

HDB traded down $0.94 during trading on Wednesday, hitting $60.35. 2,341,362 shares of the company’s stock were exchanged, compared to its average volume of 3,227,627. 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 business’s 50 day moving average is $59.71 and its two-hundred day moving average is $58.42. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $71.39. The stock has a market cap of $112.25 billion, a P/E ratio of 18.52, a PEG ratio of 1.16 and a beta of 0.93.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, April 20th. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.71 by $0.13. The company had revenue of $9.72 billion during the quarter. HDFC Bank had a net margin of 15.71% and a return on equity of 15.45%. As a group, equities analysts expect 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. Stockholders of record on Thursday, May 9th were issued a $0.7008 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a dividend yield of 1%. This is an increase from HDFC Bank’s previous annual dividend of $0.59. HDFC Bank’s dividend payout ratio is currently 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.