Franklin Resources Inc. Increases Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Franklin Resources Inc. increased its holdings in HDFC Bank Limited (NYSE:HDB) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,665,964 shares of the bank’s stock after acquiring an additional 113,268 shares during the quarter. Franklin Resources Inc. owned about 0.14% of HDFC Bank worth $178,913,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in HDFC Bank by 51.6% in the third quarter. Wellington Management Group LLP now owns 2,457,211 shares of the bank’s stock worth $145,000,000 after acquiring an additional 836,449 shares during the period. Northern Trust Corp raised its holdings in HDFC Bank by 13.1% in the third quarter. Northern Trust Corp now owns 385,864 shares of the bank’s stock worth $22,770,000 after purchasing an additional 44,648 shares in the last quarter. Truist Financial Corp raised its holdings in HDFC Bank by 17.7% in the fourth quarter. Truist Financial Corp now owns 39,606 shares of the bank’s stock worth $2,658,000 after purchasing an additional 5,953 shares in the last quarter. Martin Currie Ltd. raised 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 worth $200,751,000 after purchasing an additional 57,055 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in HDFC Bank in the fourth quarter worth $1,818,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDB opened at $57.12 on Thursday. The stock has a fifty day simple moving average of $56.89 and a two-hundred day simple moving average of $58.47. 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 company has a market cap of $106.24 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.05 and a beta of 0.85. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $71.39.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.13. HDFC Bank had a return on equity of 15.45% and a net margin of 15.71%. The firm had revenue of $9.72 billion during the quarter. Research analysts predict that HDFC Bank Limited will post 3.1 earnings per share for the current fiscal year.

HDFC Bank Increases Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, May 8th. This is an increase from HDFC Bank’s previous annual dividend of $0.59. This represents a dividend yield of 1%. HDFC Bank’s dividend payout ratio (DPR) is presently 18.40%.

Wall Street Analyst Weigh In

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

About HDFC Bank

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.