Banque Pictet & Cie SA boosted its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,696 shares of the bank's stock after acquiring an additional 18,495 shares during the quarter. Banque Pictet & Cie SA's holdings in HDFC Bank were worth $10,097,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of HDB. New Vernon Capital Holdings II LLC acquired a new stake in shares of HDFC Bank during the 1st quarter worth approximately $1,546,956,000. GQG Partners LLC boosted its holdings in HDFC Bank by 105.5% during the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock worth $1,076,128,000 after buying an additional 8,313,645 shares in the last quarter. Royal Bank of Canada grew its position in HDFC Bank by 53.5% during the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank's stock valued at $745,107,000 after buying an additional 3,907,637 shares during the period. JPMorgan Chase & Co. increased its holdings in 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. Finally, Temasek Holdings Private Ltd raised its position in shares of HDFC Bank by 3.9% in the first quarter. Temasek Holdings Private Ltd now owns 8,895,662 shares of the bank's stock worth $591,028,000 after acquiring an additional 337,874 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently commented on HDB. Zacks Research cut 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 research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".
View Our Latest Stock Report on HDFC Bank
HDFC Bank Trading Down 0.7%
HDB stock 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 business's 50-day moving average is $36.72 and its 200 day moving average is $36.07. The stock has a market cap of $174.65 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.77 and a beta of 0.63.
HDFC Bank (NYSE:HDB - Get Free Report) last released its 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 firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal 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 $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 presently 19.63%.
About HDFC Bank
(
Free Report)
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.
See Also
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