HDFC Bank Limited (NYSE:HDB – Get Rating) announced an annual dividend on Monday, April 25th, NASDAQ reports. Stockholders of record on Thursday, May 12th will be paid a dividend of 0.522 per share by the bank on Thursday, May 12th. This represents a dividend yield of 0.93%. The ex-dividend date is Wednesday, May 11th. This is an increase from HDFC Bank’s previous annual dividend of $0.21.
HDFC Bank has a payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect HDFC Bank to earn $3.73 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 7.0%.
Shares of HDB opened at $52.04 on Monday. The firm has a market cap of $95.63 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 0.74 and a beta of 0.78. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.08. HDFC Bank has a fifty-two week low of $51.11 and a fifty-two week high of $79.39. The firm has a 50 day moving average price of $59.02 and a 200-day moving average price of $65.03.
Several large investors have recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of HDFC Bank by 7.6% in the 4th quarter. Barclays PLC now owns 1,987,208 shares of the bank’s stock worth $129,308,000 after buying an additional 141,143 shares during the period. Guggenheim Capital LLC grew its position in shares of HDFC Bank by 1.7% in the 4th quarter. Guggenheim Capital LLC now owns 12,342 shares of the bank’s stock worth $803,000 after buying an additional 210 shares during the period. Advisors Asset Management Inc. grew its position in shares of HDFC Bank by 4.6% in the 4th quarter. Advisors Asset Management Inc. now owns 12,245 shares of the bank’s stock worth $797,000 after buying an additional 535 shares during the period. 1832 Asset Management L.P. grew its position in HDFC Bank by 11.5% during the 4th quarter. 1832 Asset Management L.P. now owns 7,686 shares of the bank’s stock valued at $509,000 after purchasing an additional 792 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in HDFC Bank by 14.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,294 shares of the bank’s stock valued at $344,000 after purchasing an additional 659 shares during the last quarter. 17.50% of the stock is currently owned by hedge funds and other institutional investors.
About HDFC Bank (Get Rating)
HDFC Bank Limited provides various banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. It operates in Treasury, Retail Banking, Wholesale Banking, Other Banking Business, and Unallocated segments. The company 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, overdrafts against fixed deposits, and sweep-in facilities.
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