GW&K Investment Management LLC Decreases Stock Position in HDFC Bank Limited (NYSE:HDB)

GW&K Investment Management LLC lessened its position in shares of HDFC Bank Limited (NYSE:HDB) by 66.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,431 shares of the bank’s stock after selling 59,817 shares during the quarter. GW&K Investment Management LLC’s holdings in HDFC Bank were worth $2,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Baillie Gifford & Co. grew its stake in shares of HDFC Bank by 183.8% in the 3rd quarter. Baillie Gifford & Co. now owns 9,560,478 shares of the bank’s stock worth $564,164,000 after buying an additional 6,191,548 shares in the last quarter. Brown Advisory Inc. grew its position in HDFC Bank by 82.9% in the fourth quarter. Brown Advisory Inc. now owns 4,589,266 shares of the bank’s stock worth $307,986,000 after acquiring an additional 2,079,942 shares in the last quarter. Hardman Johnston Global Advisors LLC increased its stake in HDFC Bank by 832.6% during the fourth quarter. Hardman Johnston Global Advisors LLC now owns 2,032,170 shares of the bank’s stock worth $136,379,000 after acquiring an additional 1,814,263 shares during the last quarter. Aikya Investment Management Ltd bought a new stake in shares of HDFC Bank in the 4th quarter valued at approximately $77,036,000. Finally, Wellington Management Group LLP boosted its holdings in shares of HDFC Bank by 51.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,457,211 shares of the bank’s stock worth $145,000,000 after purchasing an additional 836,449 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $56.15 on Thursday. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $71.39. 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 firm’s 50-day moving average is $56.89 and its 200 day moving average is $58.47. The company has a market capitalization of $104.43 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.05 and a beta of 0.85.

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

HDFC Bank Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, May 8th. Shareholders of record on Thursday, May 9th were paid a dividend of $0.7008 per share. The ex-dividend date was Wednesday, May 8th. This is an increase from HDFC Bank’s previous annual dividend of $0.59. This represents a yield of 1%. HDFC Bank’s payout ratio is 18.40%.

HDFC Bank 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.