Ashoka WhiteOak Capital Pte Ltd Lowers Stake in HDFC Bank Limited $HDB

Key Points

• Ashoka WhiteOak Capital Pte Ltd reduced its stake in HDFC Bank by 28.4%, now holding 360,500 shares valued at approximately $27.64 million.
• Research analysts have mixed views on HDFC Bank, with Zacks rating it as a "strong sell", while Wall Street Zen upgraded it to a "hold", reflecting cautious sentiment among investors.
• HDFC Bank's stock has seen a fluctuation, with a 12-month low of $28.89 and a high of $39.81, currently trading at around $34.24.

Ashoka WhiteOak Capital Pte Ltd lessened its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 28.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 360,500 shares of the bank's stock after selling 143,100 shares during the period. HDFC Bank makes up 13.4% of Ashoka WhiteOak Capital Pte Ltd's portfolio, making the stock its 2nd biggest position. Ashoka WhiteOak Capital Pte Ltd's holdings in HDFC Bank were worth $27,640,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of HDFC Bank by 6.8% in the 1st quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock worth $159,000 after buying an additional 153 shares in the last quarter. DMC Group LLC grew its position in HDFC Bank by 2.5% in the first quarter. DMC Group LLC now owns 7,418 shares of the bank's stock valued at $493,000 after acquiring an additional 181 shares during the period. Platform Technology Partners raised its stake in HDFC Bank by 2.7% during the first quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock worth $508,000 after acquiring an additional 201 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in shares of HDFC Bank by 2.7% during the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock valued at $599,000 after acquiring an additional 241 shares during the period. Finally, Ieq Capital LLC boosted its stake in shares of HDFC Bank by 7.1% in the 1st quarter. Ieq Capital LLC now owns 4,456 shares of the bank's stock valued at $296,000 after purchasing an additional 294 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

HDFC Bank Stock Down 0.7%

Shares of NYSE HDB opened at $34.24 on Friday. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81. The firm's 50-day simple moving average is $36.72 and its 200 day simple moving average is $36.07. The company has a market cap of $174.65 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.77 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last announced 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 return on equity of 11.60% and a net margin of 14.49%.The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. On average, equities analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Announces Dividend

The company also recently disclosed a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.0854 per share. The ex-dividend date of this dividend 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.

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