Baird Financial Group Inc. Buys 61,633 Shares of HDFC Bank Limited $HDB

Key Points

• Baird Financial Group Inc. increased its stake in HDFC Bank Limited by 6.4% during the first quarter, purchasing an additional 61,633 shares, which brought its total holdings to 1,020,428 shares worth approximately $67.8 million.
• Multiple hedge funds have significantly lifted their positions in HDFC Bank, with Larson Financial Group increasing its stake by 1,217.1% and Cullen Frost Bankers increasing its stake by 448.7% in the same period.
• HDFC Bank reported earnings of $0.74 per share for the quarter, slightly below estimates, and announced a special dividend of $0.1707 per share, yielding 101.0% with a payout ratio of 19.63%.

Baird Financial Group Inc. lifted its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,020,428 shares of the bank's stock after buying an additional 61,633 shares during the period. Baird Financial Group Inc.'s holdings in HDFC Bank were worth $67,797,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its stake 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 valued at $31,000 after buying an additional 426 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock valued at $41,000 after buying an additional 507 shares during the period. NBC Securities Inc. bought a new stake in shares of HDFC Bank in the first quarter valued at about $55,000. Pinnacle Bancorp Inc. lifted its stake in shares of HDFC Bank by 109.7% in the first 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. raised its position in HDFC Bank by 233.0% in the first quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after purchasing an additional 629 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Up 0.1%

NYSE HDB opened at $71.18 on Friday. The firm has a market cap of $181.56 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.82 and a beta of 0.64. The company has a 50 day moving average of $75.62 and a 200-day moving average of $70.86. HDFC Bank Limited has a 1-year low of $57.78 and a 1-year high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 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 the consensus estimate of $5.03 billion. On average, analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, August 20th. Stockholders of record on Thursday, July 31st were paid a dividend of $0.1707 per share. This represents a dividend yield of 101.0%. The ex-dividend date of this dividend was Thursday, July 31st. HDFC Bank's dividend payout ratio is 19.63%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Strong Buy".

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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