Mather Group LLC. Purchases New Position in HDFC Bank Limited (NYSE:HDB)

Mather Group LLC. purchased a new stake in HDFC Bank Limited (NYSE:HDB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,442 shares of the bank’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Alliance Wealth Advisors LLC UT lifted its holdings in shares of HDFC Bank by 22.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 4,370 shares of the bank’s stock valued at $293,000 after purchasing an additional 804 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of HDFC Bank in the fourth quarter valued at approximately $173,000. Truist Financial Corp grew its position in shares of HDFC Bank by 17.7% during the fourth quarter. Truist Financial Corp now owns 39,606 shares of the bank’s stock worth $2,658,000 after acquiring an additional 5,953 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of HDFC Bank by 25.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 1,550,276 shares of the bank’s stock valued at $104,039,000 after acquiring an additional 315,036 shares during the period. Finally, Channing Global Advisors LLC raised its position in HDFC Bank by 51.6% in the 4th quarter. Channing Global Advisors LLC now owns 175,371 shares of the bank’s stock valued at $11,769,000 after purchasing an additional 59,661 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

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 Stock Down 0.6 %

HDFC Bank stock opened at $58.51 on Friday. The stock has a market capitalization of $108.82 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.09 and a beta of 0.85. The company has a current ratio of 0.40, a quick ratio of 0.52 and a debt-to-equity ratio of 1.78. The stock has a 50 day moving average of $56.51 and a two-hundred day moving average of $58.55. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $71.39.

HDFC Bank Increases Dividend

The company also recently disclosed 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 is a boost from HDFC Bank’s previous annual dividend of $0.59. This represents a yield of 1%. The ex-dividend date of this dividend is Wednesday, May 8th. HDFC Bank’s payout ratio is currently 18.10%.

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.