QRG Capital Management Inc. Acquires 3,239 Shares of HDFC Bank Limited (NYSE:HDB)

QRG Capital Management Inc. raised its holdings in HDFC Bank Limited (NYSE:HDBFree Report) by 14.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,388 shares of the bank’s stock after purchasing an additional 3,239 shares during the quarter. QRG Capital Management Inc.’s holdings in HDFC Bank were worth $1,771,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HDB. Endowment Wealth Management Inc. grew its stake in HDFC Bank by 4.6% in the 4th quarter. Endowment Wealth Management Inc. now owns 4,166 shares of the bank’s stock valued at $280,000 after buying an additional 184 shares during the last quarter. Private Advisor Group LLC lifted its holdings in HDFC Bank by 2.3% during the 4th quarter. Private Advisor Group LLC now owns 9,853 shares of the bank’s stock worth $661,000 after purchasing an additional 218 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in HDFC Bank by 3.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 6,556 shares of the bank’s stock valued at $387,000 after purchasing an additional 245 shares during the period. GSB Wealth Management LLC grew its holdings in HDFC Bank by 1.9% in the 3rd quarter. GSB Wealth Management LLC now owns 13,575 shares of the bank’s stock valued at $801,000 after buying an additional 253 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its position in HDFC Bank by 2.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 9,816 shares of the bank’s stock worth $659,000 after buying an additional 253 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, May 10th.

View Our Latest Stock Report on HDB

HDFC Bank Trading Down 0.5 %

Shares of HDB stock opened at $55.66 on Thursday. The stock has a market cap of $103.51 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.05 and a beta of 0.85. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $71.39. 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 simple moving average of $56.89 and a 200 day simple moving average of $58.50.

HDFC Bank (NYSE:HDBGet Free Report) last released its earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.13. The company 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%. On average, research 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 declared an annual dividend, which was paid on Wednesday, May 8th. Stockholders of record on Thursday, May 9th were issued a dividend of $0.7008 per share. This represents a dividend yield of 1%. The ex-dividend date was Wednesday, May 8th. This is an increase from HDFC Bank’s previous annual dividend of $0.59. HDFC Bank’s dividend payout ratio is 18.40%.

HDFC Bank Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding HDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HDFC Bank Limited (NYSE:HDBFree Report).

Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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