Acadian Asset Management LLC Invests $19.37 Million in HDFC Bank Limited $HDB

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 bought a new position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 291,487 shares of the bank's stock, valued at approximately $19,366,000.

Several other institutional investors also recently modified their holdings of the stock. Larson Financial Group LLC increased its position in shares of HDFC Bank by 1,217.1% in the first quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after purchasing an additional 507 shares during the period. NBC Securities Inc. purchased a new position in HDFC Bank during the first quarter valued at approximately $55,000. Pinnacle Bancorp Inc. increased its stake in HDFC Bank by 109.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock valued at $56,000 after buying an additional 443 shares during the period. Finally, Rakuten Securities Inc. lifted its position in HDFC Bank by 233.0% in the 1st quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after buying an additional 629 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Up 3.6%

NYSE:HDB traded up $1.27 during trading hours on Wednesday, hitting $36.43. 2,131,554 shares of the company traded hands, compared to its average volume of 4,918,269. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81. The firm has a 50-day moving average of $37.13 and a 200 day moving average of $35.85. The stock has a market capitalization of $185.82 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 1.80 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 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 company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. Equities research analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were given 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 dividend payout ratio is 19.63%.

Analyst Ratings Changes

HDB has been the topic of several research analyst reports. Zacks Research cut shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy".

HDFC Bank 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.