291,487 Shares in HDFC Bank Limited $HDB Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC acquired a new stake in HDFC Bank, purchasing 291,487 shares valued at approximately $19.37 million in the first quarter.
• HDFC Bank recently announced a special dividend of $0.0854 per share, yielding 101.0%, which was paid to shareholders of record on July 31st.
• The bank's **average** analyst rating is **"Moderate Buy"**, with one analyst suggesting a **Strong Buy**, while others provided mixed ratings, including a recent downgrade to **"strong sell"** by Zacks Research.

Acadian Asset Management LLC acquired a new position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 291,487 shares of the bank's stock, valued at approximately $19,366,000.

Other hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets grew its position in HDFC Bank by 81.0% in the 1st quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank's stock valued at $37,765,000 after purchasing an additional 254,395 shares during the period. Raiffeisen Bank International AG raised its stake in shares of HDFC Bank by 21.3% during the 1st quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank's stock worth $12,778,000 after purchasing an additional 33,983 shares during the period. Immersion Capital LLP bought a new stake in shares of HDFC Bank during the 1st quarter worth $19,753,000. Eminence Capital LP raised its stake in shares of HDFC Bank by 18.9% during the 1st quarter. Eminence Capital LP now owns 1,186,551 shares of the bank's stock worth $78,834,000 after purchasing an additional 189,015 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of HDFC Bank by 53.5% during the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank's stock worth $745,107,000 after purchasing an additional 3,907,637 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HDB. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Zacks Research cut HDFC Bank from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. 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. According to MarketBeat.com, HDFC Bank has an average rating of "Moderate Buy".

HDFC Bank Price Performance

HDB stock traded down $0.03 during mid-day trading on Monday, reaching $35.04. 3,622,270 shares of the company traded hands, compared to its average volume of 4,946,073. The company has a market capitalization of $178.78 billion, a P/E ratio of 21.50, a P/E/G ratio of 1.80 and a beta of 0.63. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81. The company has a fifty day moving average price of $37.24 and a 200-day moving average price of $35.83.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Saturday, July 19th. The bank reported $0.37 earnings per share 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 company had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.03 billion. As a group, analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Dividend Announcement

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

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.