Axiom Investors LLC DE Grows Stock Position in HDFC Bank Limited $HDB

Key Points

• Axiom Investors LLC DE increased its stake in HDFC Bank Limited by 304.2%, acquiring an additional 21,900 shares to total 29,100 shares valued at approximately $1.93 million.
• Multiple institutional investors showed significant activity, with New Vernon Capital Holdings II LLC purchasing a new stake worth about $1.55 billion, while GQG Partners LLC increased its holdings by 105.5%.
• HDFC Bank recently reported earnings, missing the consensus EPS estimate slightly, and announced a special dividend yield of 101.0% paid to shareholders, reflecting a payout ratio of 19.63%.

Axiom Investors LLC DE raised its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 304.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,100 shares of the bank's stock after acquiring an additional 21,900 shares during the quarter. Axiom Investors LLC DE's holdings in HDFC Bank were worth $1,933,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. New Vernon Capital Holdings II LLC bought a new stake in HDFC Bank during the 1st quarter valued at $1,546,956,000. GQG Partners LLC boosted its position in HDFC Bank by 105.5% during the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock valued at $1,076,128,000 after acquiring an additional 8,313,645 shares in the last quarter. Royal Bank of Canada boosted its position in HDFC Bank by 53.5% during the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank's stock valued at $745,107,000 after acquiring an additional 3,907,637 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of HDFC Bank by 2.1% during the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock valued at $638,934,000 after purchasing an additional 202,032 shares during the last quarter. Finally, Temasek Holdings Private Ltd lifted its holdings in shares of HDFC Bank by 3.9% during the 1st quarter. Temasek Holdings Private Ltd now owns 8,895,662 shares of the bank's stock valued at $591,028,000 after purchasing an additional 337,874 shares during the last quarter. Institutional investors own 17.61% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Zacks Research lowered HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy".

HDFC Bank Stock Performance

HDB stock traded down $0.32 during midday trading on Friday, reaching $35.07. The stock had a trading volume of 1,774,980 shares, compared to its average volume of 3,153,940. The stock has a market cap of $178.91 billion, a PE ratio of 21.52, a P/E/G ratio of 1.80 and a beta of 0.63. The firm has a fifty day simple moving average of $37.24 and a two-hundred day simple moving average of $35.83. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, July 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. On average, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, August 20th. Investors 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 (DPR) 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.