Truist Financial Corp Boosts Stock Position in HDFC Bank Limited (NYSE:HDB)

Truist Financial Corp lifted its position in HDFC Bank Limited (NYSE:HDB) by 17.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,606 shares of the bank’s stock after purchasing an additional 5,953 shares during the quarter. Truist Financial Corp’s holdings in HDFC Bank were worth $2,658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HDB. Wellington Management Group LLP raised its stake in shares of HDFC Bank by 51.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,457,211 shares of the bank’s stock valued at $145,000,000 after buying an additional 836,449 shares during the last quarter. Northern Trust Corp raised its position in HDFC Bank by 13.1% during the third quarter. Northern Trust Corp now owns 385,864 shares of the bank’s stock valued at $22,770,000 after acquiring an additional 44,648 shares in the last quarter. Martin Currie Ltd. lifted its holdings in HDFC Bank by 1.7% in the third quarter. Martin Currie Ltd. now owns 3,401,986 shares of the bank’s stock valued at $200,751,000 after acquiring an additional 57,055 shares during the period. Citigroup Inc. boosted its position 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 purchasing an additional 691,615 shares in the last quarter. Finally, Aikya Investment Management Ltd acquired a new stake in shares of HDFC Bank during the 4th quarter worth approximately $77,036,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd.

HDFC Bank Price Performance

Shares of HDFC Bank stock opened at $56.00 on Thursday. The firm 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 twelve month low of $52.16 and a twelve month high of $71.39. The company has a quick ratio of 0.52, a current ratio of 0.40 and a debt-to-equity ratio of 1.78. The business has a 50-day moving average price of $56.74 and a 200 day moving average price of $58.56.

HDFC Bank Increases Dividend

The firm also recently announced an annual dividend, which was paid on Wednesday, May 8th. Stockholders of record on Thursday, May 9th were paid a dividend of $0.7008 per share. This represents a dividend yield of 1%. This is an increase from HDFC Bank’s previous annual dividend of $0.59. The ex-dividend date of this dividend was Wednesday, May 8th. HDFC Bank’s dividend payout ratio is presently 18.10%.

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.