BNP Paribas Financial Markets Boosts Holdings in HDFC Bank Limited $HDB

Key Points

• BNP Paribas Financial Markets increased its stake in HDFC Bank Limited by 81% in Q1, owning 568,407 shares valued at $37.77 million after purchasing an additional 254,395 shares.
• HDFC Bank's stock has recently opened at $71.18 with a market cap of $181.56 billion and reported a quarterly earnings miss, with earnings per share of $0.74 against an estimate of $0.75.
• The bank declared a special dividend of $0.1707 per share, yielding 101%, with an ex-dividend date of July 31.

BNP Paribas Financial Markets grew its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 81.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 568,407 shares of the bank's stock after purchasing an additional 254,395 shares during the quarter. BNP Paribas Financial Markets' holdings in HDFC Bank were worth $37,765,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Larson Financial Group LLC increased its stake in shares of HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after acquiring an additional 507 shares in the last quarter. NBC Securities Inc. bought a new position in shares of HDFC Bank in the 1st quarter worth about $55,000. Pinnacle Bancorp Inc. increased its stake in shares of HDFC Bank by 109.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock worth $56,000 after acquiring an additional 443 shares in the last quarter. Finally, Rakuten Securities Inc. increased its stake in shares of HDFC Bank by 233.0% in the 1st quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after acquiring an additional 629 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Down 0.0%

Shares of NYSE HDB traded down $0.04 during trading on Friday, reaching $70.61. 1,718,612 shares of the company traded hands, compared to its average volume of 1,664,012. The firm has a 50 day simple moving average of $75.07 and a 200-day simple moving average of $71.21. The stock has a market capitalization of $180.09 billion, a PE ratio of 21.66, a P/E/G ratio of 1.81 and a beta of 0.63. HDFC Bank Limited has a 52-week low of $57.78 and a 52-week high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The company had revenue of $5.10 billion for 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, research analysts predict that HDFC Bank Limited will post 3.03 EPS 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 issued 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 (DPR) is presently 19.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HDB. Zacks Research lowered shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company 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.