Foresight Global Investors Inc. Sells 5,531 Shares of HDFC Bank Limited (NYSE:HDB)

Foresight Global Investors Inc. lowered its position in shares of HDFC Bank Limited (NYSE:HDB) by 3.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 154,361 shares of the bank’s stock after selling 5,531 shares during the quarter. HDFC Bank comprises about 5.9% of Foresight Global Investors Inc.’s portfolio, making the stock its 8th largest position. Foresight Global Investors Inc.’s holdings in HDFC Bank were worth $10,359,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Baillie Gifford & Co. grew its holdings in HDFC Bank by 183.8% during the third quarter. Baillie Gifford & Co. now owns 9,560,478 shares of the bank’s stock worth $564,164,000 after acquiring an additional 6,191,548 shares during the period. Hardman Johnston Global Advisors LLC boosted its holdings 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 buying an additional 1,814,263 shares in the last quarter. Aikya Investment Management Ltd acquired a new stake in HDFC Bank during the fourth quarter valued at $77,036,000. Wellington Management Group LLP increased its holdings 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 valued at $145,000,000 after buying an additional 836,449 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its stake in shares of HDFC Bank by 57.8% during the 3rd quarter. Royal London Asset Management Ltd. now owns 2,002,576 shares of the bank’s stock worth $118,192,000 after acquiring an additional 733,492 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

HDFC Bank Price Performance

NYSE HDB traded down $0.74 during trading hours on Thursday, hitting $55.33. 2,835,999 shares of the company’s stock traded hands, compared to its average volume of 3,455,637. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $71.39. The company has a market capitalization of $102.91 billion, a PE ratio of 16.97, a PEG ratio of 1.10 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. The firm’s 50-day moving average is $56.80 and its 200-day moving average is $58.54.

HDFC Bank Increases Dividend

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

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.