Immersion Capital LLP Invests $19.75 Million in HDFC Bank Limited $HDB

Key Points

• Immersion Capital LLP has acquired 297,305 shares in HDFC Bank Limited, valued at approximately $19.75 million, making it the bank's 4th largest holding in its portfolio.
• Several institutional investors have significantly increased their stakes in HDFC Bank during the first quarter, including GQG Partners LLC and OVERSEA CHINESE BANKING Corp Ltd, with GQG Partners boosting holdings by 105.5%.
• HDFC Bank recently reported earnings of $0.74 per share, slightly missing the analysts' estimates, while also having a market cap of $181.37 billion.

Immersion Capital LLP purchased a new stake in HDFC Bank Limited (NYSE:HDB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 297,305 shares of the bank's stock, valued at approximately $19,753,000. HDFC Bank comprises approximately 13.5% of Immersion Capital LLP's investment portfolio, making the stock its 4th largest position.

Other large investors have also modified their holdings of the company. Northern Trust Corp lifted its stake in shares of HDFC Bank by 52.0% in the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock valued at $64,855,000 after purchasing an additional 347,488 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of HDFC Bank in the 4th quarter valued at $580,000. Raiffeisen Bank International AG lifted its stake in shares of HDFC Bank by 21.3% in the 1st quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank's stock valued at $12,778,000 after purchasing an additional 33,983 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of HDFC Bank by 20.6% in the 1st quarter. Natixis Advisors LLC now owns 2,238,560 shares of the bank's stock valued at $148,730,000 after purchasing an additional 382,267 shares during the last quarter. Finally, ARGA Investment Management LP lifted its stake in shares of HDFC Bank by 7.2% in the 1st quarter. ARGA Investment Management LP now owns 1,553,975 shares of the bank's stock valued at $103,246,000 after purchasing an additional 104,162 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HDB shares. Zacks Research downgraded HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy".

HDFC Bank Stock Up 0.9%

NYSE HDB traded up $0.66 during trading hours on Wednesday, hitting $70.55. 802,521 shares of the company were exchanged, compared to its average volume of 2,514,654. The company has a 50 day moving average of $75.44 and a two-hundred day moving average of $71.00. HDFC Bank Limited has a 52-week low of $57.78 and a 52-week high of $79.61. The firm has a market cap of $179.94 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.82 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%.The company had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.03 billion. On average, equities research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.1707 per share. The ex-dividend date was Thursday, July 31st. This represents a yield of 101.0%. HDFC Bank's dividend payout ratio is 19.63%.

HDFC Bank Company 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.