Aberdeen Group plc Purchases 242,031 Shares of HDFC Bank Limited $HDB

Key Points

• Aberdeen Group plc significantly increased its stake in HDFC Bank Limited by 68.7%, acquiring an additional 242,031 shares, bringing its total holdings to 594,159 shares valued at approximately $45.37 million.
• HDFC Bank reported earnings of $0.37 per share, missing analysts' expectations of $0.38, while its revenue was $5.10 billion, exceeding estimates of $5.03 billion.
• The bank recently declared a special dividend of $0.0854 per share, offering a yield of 101.0%, with a low payout ratio of 19.63%.

Aberdeen Group plc lifted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 68.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 594,159 shares of the bank's stock after acquiring an additional 242,031 shares during the quarter. Aberdeen Group plc's holdings in HDFC Bank were worth $45,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. PDS Planning Inc raised its position in shares of HDFC Bank by 10.6% during the second quarter. PDS Planning Inc now owns 17,181 shares of the bank's stock worth $1,317,000 after acquiring an additional 1,653 shares during the last quarter. Blue Trust Inc. raised its position in shares of HDFC Bank by 14.8% during the second quarter. Blue Trust Inc. now owns 37,602 shares of the bank's stock worth $2,883,000 after acquiring an additional 4,843 shares during the last quarter. IFP Advisors Inc raised its position in shares of HDFC Bank by 17.0% during the second quarter. IFP Advisors Inc now owns 9,733 shares of the bank's stock worth $746,000 after acquiring an additional 1,414 shares during the last quarter. Callan Family Office LLC raised its position in shares of HDFC Bank by 200.8% during the second quarter. Callan Family Office LLC now owns 76,645 shares of the bank's stock worth $5,876,000 after acquiring an additional 51,162 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of HDFC Bank by 10.6% during the second quarter. Blair William & Co. IL now owns 8,219 shares of the bank's stock worth $630,000 after acquiring an additional 785 shares during the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Up 0.1%

NYSE:HDB opened at $34.82 on Monday. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81. The stock has a market cap of $177.63 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 1.85 and a beta of 0.63. The stock has a 50-day moving average price of $35.78 and a two-hundred day moving average price of $36.35.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Saturday, July 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. Sell-side analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Announces Dividend

The firm also recently announced a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were paid a $0.0854 dividend. This represents a yield of 101.0%. The ex-dividend date of this dividend was Thursday, July 31st. HDFC Bank's payout ratio is presently 19.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded HDFC Bank from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of HDFC Bank in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

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.

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