NEW YORK ( TheStreet) -- The ex-dividend date for HDFC Bank (NYSE: HDB) is Tuesday, May 31, 2011. Owners of shares as of market close today will be eligible for a dividend of $1.09 per share. At a price of $162.22 as of 9:30 a.m. ET, the dividend yield is 1.2%.

The average volume for HDFC has been 205,200 shares per day over the past 30 days. HDFC has a market cap of $23.9 billion and is part of the financial sector and banking industry. Shares are down 3.8% year to date as of the close of trading on Thursday.

HDFC Bank Limited provides commercial banking products and services in India. It operates in three segments: Retail Banking, Wholesale Banking, and Treasury. The company has a P/E ratio of 41.6, above the average banking industry P/E ratio of 41.5 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates HDFC as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. You can view the full HDFC Ratings Report.

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