Formidable Asset Management LLC Takes Position in HDFC Bank Limited (NYSE:HDB)

Formidable Asset Management LLC purchased a new stake in shares of HDFC Bank Limited (NYSE:HDBFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,461 shares of the bank’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also modified their holdings of HDB. Skandinaviska Enskilda Banken AB publ bought a new position in HDFC Bank in the third quarter valued at $27,000. NBC Securities Inc. acquired a new position in HDFC Bank during the third quarter worth $29,000. GAMMA Investing LLC bought a new stake in HDFC Bank during the fourth quarter worth $33,000. Parkside Financial Bank & Trust lifted its stake in HDFC Bank by 89.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock valued at $41,000 after acquiring an additional 291 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in HDFC Bank by 44.7% during the third quarter. Signaturefd LLC now owns 848 shares of the bank’s stock worth $50,000 after purchasing an additional 262 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday.

View Our Latest Analysis on HDFC Bank

HDFC Bank Price Performance

NYSE:HDB traded up $0.50 during trading hours on Monday, reaching $56.00. 651,264 shares of the company were exchanged, compared to its average volume of 3,412,426. The business has a 50 day moving average of $56.85 and a 200 day moving average of $58.52. The company has a market capitalization of $104.16 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.04 and a beta of 0.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.40 and a quick ratio of 0.52. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $71.39.

HDFC Bank Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, May 8th. Investors of record on Thursday, May 9th were paid a $0.7008 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This is a positive change from HDFC Bank’s previous annual dividend of $0.59. This represents a yield of 1%. HDFC Bank’s dividend payout ratio (DPR) is 18.10%.

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.

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

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