Origin Asset Management LLP Reduces Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Origin Asset Management LLP trimmed its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 56.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,700 shares of the bank’s stock after selling 19,065 shares during the quarter. HDFC Bank accounts for about 0.3% of Origin Asset Management LLP’s holdings, making the stock its 9th largest position. Origin Asset Management LLP’s holdings in HDFC Bank were worth $987,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of HDFC Bank in the third quarter valued at $27,000. NBC Securities Inc. bought a new stake in HDFC Bank in the 3rd quarter valued at about $29,000. GAMMA Investing LLC purchased a new stake in HDFC Bank during the fourth quarter valued at about $33,000. FinTrust Capital Advisors LLC boosted its position in HDFC Bank by 36.4% during the third quarter. FinTrust Capital Advisors LLC now owns 693 shares of the bank’s stock worth $41,000 after purchasing an additional 185 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of HDFC Bank by 89.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock worth $41,000 after purchasing an additional 291 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

NYSE HDB traded up $0.73 during trading hours on Thursday, hitting $58.87. The company had a trading volume of 1,754,448 shares, compared to its average volume of 3,477,110. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40. The firm has a market capitalization of $109.49 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.08 and a beta of 0.85. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $71.39. The firm has a 50 day simple moving average of $56.42 and a 200 day simple moving average of $58.55.

HDFC Bank Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Thursday, May 9th will be given a $0.7008 dividend. This is a positive change from HDFC Bank’s previous annual dividend of $0.59. This represents a dividend yield of 1%. The ex-dividend date is Wednesday, May 8th. HDFC Bank’s dividend payout ratio (DPR) is 17.79%.

Analyst Upgrades and Downgrades

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

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.