HDFC Bank Limited $HDB Shares Bought by AQR Capital Management LLC

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 grew its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 9.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 82,978 shares of the bank's stock after acquiring an additional 7,306 shares during the period. AQR Capital Management LLC's holdings in HDFC Bank were worth $5,496,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in shares of HDFC Bank by 81.0% during the first quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank's stock valued at $37,765,000 after buying an additional 254,395 shares during the last quarter. Raiffeisen Bank International AG raised its position in HDFC Bank by 21.3% in the first quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank's stock worth $12,778,000 after acquiring an additional 33,983 shares during the period. Immersion Capital LLP bought a new stake in shares of HDFC Bank in the first quarter valued at approximately $19,753,000. Royal Bank of Canada raised its position in shares of HDFC Bank by 53.5% in the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank's stock valued at $745,107,000 after purchasing an additional 3,907,637 shares during the period. Finally, Natixis Advisors LLC raised its position in shares of HDFC Bank by 20.6% in the first 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 period. Institutional investors own 17.61% of the company's stock.

HDFC Bank Price Performance

Shares of HDB traded down $0.36 on Thursday, reaching $35.61. The company's stock had a trading volume of 2,347,963 shares, compared to its average volume of 3,255,257. The stock has a market capitalization of $181.66 billion, a P/E ratio of 21.85, a PEG ratio of 1.85 and a beta of 0.63. The stock's 50 day simple moving average is $37.03 and its two-hundred day simple moving average is $35.89. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81.

HDFC Bank (NYSE:HDB - Get Free Report) last issued 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). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The firm had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.03 billion. Analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on HDB. Zacks Research lowered shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average 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.