National Bank of Canada FI Reduces Stock Position in HDFC Bank Limited (NYSE:HDB)

National Bank of Canada FI reduced its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 98.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,133 shares of the bank's stock after selling 645,128 shares during the quarter. National Bank of Canada FI's holdings in HDFC Bank were worth $608,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings 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 worth $145,000,000 after acquiring an additional 836,449 shares during the last quarter. Northern Trust Corp increased its holdings in HDFC Bank by 13.1% during the 3rd 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. Truist Financial Corp raised its position in HDFC Bank by 17.7% during the 4th quarter. Truist Financial Corp now owns 39,606 shares of the bank's stock valued at $2,658,000 after purchasing an additional 5,953 shares during the last quarter. 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 valued at $200,751,000 after purchasing an additional 57,055 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in HDFC Bank by 1,193.0% in 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. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Up 0.8 %

Shares of NYSE HDB traded up $0.42 during midday trading on Thursday, hitting $56.08. 1,132,775 shares of the company traded hands, compared to its average volume of 3,364,664. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $71.39. The firm has a market cap of $104.30 billion, a P/E ratio of 17.20, a P/E/G ratio of 1.05 and a beta of 0.85. The stock has a 50-day moving average price of $56.89 and a 200 day moving average price of $58.50. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.13. The firm had revenue of $9.72 billion for the quarter. HDFC Bank had a return on equity of 15.45% and a net margin of 15.71%. As a group, analysts expect that HDFC Bank Limited will post 3.1 earnings per share for the current year.

HDFC Bank Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, May 8th. Investors of record on Thursday, May 9th were paid a $0.7008 dividend. This represents a dividend yield of 1%. This is a positive change from HDFC Bank's previous annual dividend of $0.59. The ex-dividend date was Wednesday, May 8th. HDFC Bank's dividend payout ratio (DPR) is presently 18.40%.

Analyst Ratings Changes

Separately, StockNews.com upgraded HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday, May 10th.

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.