M&T Bank Corp Acquires 14,939 Shares of HDFC Bank Limited (NYSE:HDB)

M&T Bank Corp lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 32.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,632 shares of the bank's stock after acquiring an additional 14,939 shares during the period. M&T Bank Corp's holdings in HDFC Bank were worth $4,136,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Morgan Stanley grew its position in HDFC Bank by 5.1% in the 3rd quarter. Morgan Stanley now owns 14,886,302 shares of the bank's stock worth $878,441,000 after purchasing an additional 723,106 shares in the last quarter. Baillie Gifford & Co. grew its position in HDFC Bank by 0.8% in the 4th quarter. Baillie Gifford & Co. now owns 9,636,983 shares of the bank's stock worth $646,738,000 after purchasing an additional 76,505 shares in the last quarter. Ameriprise Financial Inc. grew its position in HDFC Bank by 4.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,772,331 shares of the bank's stock worth $516,561,000 after purchasing an additional 410,884 shares in the last quarter. Sustainable Growth Advisers LP grew its position in HDFC Bank by 2.2% in the 3rd quarter. Sustainable Growth Advisers LP now owns 6,933,843 shares of the bank's stock worth $409,166,000 after purchasing an additional 146,980 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in HDFC Bank by 2.9% in the 4th quarter. Impax Asset Management Group plc now owns 5,771,491 shares of the bank's stock worth $386,431,000 after purchasing an additional 160,220 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

HDFC Bank Stock Performance

HDB traded down $0.76 during midday trading on Wednesday, reaching $56.00. The company had a trading volume of 3,111,283 shares, compared to its average volume of 3,447,450. 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 stock has a market cap of $104.16 billion, a PE ratio of 17.18, a P/E/G ratio of 1.10 and a beta of 0.85. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $71.39. The business has a 50-day moving average price of $56.74 and a two-hundred day moving average price of $58.56.

HDFC Bank Increases Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Thursday, May 9th will be paid a $0.7008 dividend. This represents a yield of 1%. This is a boost from HDFC Bank's previous annual dividend of $0.59. The ex-dividend date is Wednesday, May 8th. HDFC Bank's payout ratio is presently 18.10%.

Analyst Ratings Changes

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

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.