AQR Capital Management LLC Has $5.50 Million Holdings in HDFC Bank Limited $HDB

Key Points

• AQR Capital Management LLC increased its holdings in HDFC Bank Limited by 9.7% in the 1st quarter, owning a total of 82,978 shares worth approximately $5.5 million.
• Several hedge funds, including GQG Partners LLC and OVERSEA CHINESE BANKING Corp Ltd, have made significant investments, boosting their stakes by 105.5% and 6,502.2%, respectively.
• HDFC Bank recently announced a special dividend of $0.0854, yielding 101.0%, with a payout ratio currently at 19.63%.

AQR Capital Management LLC lifted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,978 shares of the bank's stock after purchasing an additional 7,306 shares during the quarter. AQR Capital Management LLC's holdings in HDFC Bank were worth $5,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. GQG Partners LLC boosted its stake in HDFC Bank by 105.5% in the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock valued at $1,076,128,000 after buying an additional 8,313,645 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of HDFC Bank by 53.5% during the first 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 last quarter. JPMorgan Chase & Co. increased its stake in shares of HDFC Bank by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock valued at $638,934,000 after buying an additional 202,032 shares in the last quarter. Temasek Holdings Private Ltd raised its holdings in shares of HDFC Bank by 2.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank's stock valued at $546,500,000 after buying an additional 190,566 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in HDFC Bank by 32.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,250,093 shares of the bank's stock worth $415,256,000 after buying an additional 1,545,639 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Zacks Research lowered shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a research 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 research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

HDFC Bank Stock Down 0.1%

HDB traded down $0.03 during trading hours on Monday, hitting $35.04. 3,622,270 shares of the company's stock were exchanged, compared to its average volume of 3,153,940. The stock's 50-day moving average is $37.19 and its two-hundred day moving average is $35.86. 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 $178.78 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.80 and a beta of 0.63.

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

HDFC Bank Announces Dividend

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