Nordea Investment Management AB reduced its position in HDFC Bank Limited (NYSE:HDB) by 71.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,427 shares of the bank’s stock after selling 115,098 shares during the period. Nordea Investment Management AB’s holdings in HDFC Bank Limited were worth $3,492,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Sawtooth Solutions LLC raised its stake in shares of HDFC Bank Limited by 3.8% in the third quarter. Sawtooth Solutions LLC now owns 5,168 shares of the bank’s stock worth $372,000 after buying an additional 189 shares in the last quarter. Jane Street Group LLC bought a new position in HDFC Bank Limited during the third quarter worth $2,976,000. D. E. Shaw & Co. Inc. raised its position in HDFC Bank Limited by 236.2% in the third quarter. D. E. Shaw & Co. Inc. now owns 275,942 shares of the bank’s stock worth $19,837,000 after buying an additional 193,877 shares during the period. HBK Investments L P bought a new position in HDFC Bank Limited during the third quarter worth $672,000. Finally, Conatus Capital Management LP raised its position in HDFC Bank Limited by 226.3% in the third quarter. Conatus Capital Management LP now owns 362,323 shares of the bank’s stock worth $26,047,000 after buying an additional 251,283 shares during the period. 18.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HDFC Bank Limited (NYSE:HDB) opened at 88.61 on Friday. The firm’s 50-day moving average price is $85.43 and its 200 day moving average price is $73.49. The stock has a market cap of $451.85 billion, a P/E ratio of 193.05 and a beta of 0.93. HDFC Bank Limited has a one year low of $59.00 and a one year high of $89.84.
The company also recently declared an annual dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 29th will be issued a dividend of $0.493 per share. The ex-dividend date is Tuesday, June 27th. HDFC Bank Limited’s dividend payout ratio (DPR) is 18.10%.
HDB has been the topic of several research analyst reports. Zacks Investment Research upgraded HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Tuesday, March 14th. Morgan Stanley downgraded HDFC Bank Limited from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 21st.
About HDFC Bank Limited
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.
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