HDFC Bank Limited $HDB Position Lifted by BNP Paribas Financial Markets

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 increased its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 81.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568,407 shares of the bank's stock after buying an additional 254,395 shares during the period. BNP Paribas Financial Markets' holdings in HDFC Bank were worth $37,765,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of HDB. Larson Financial Group LLC raised its position 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 last quarter. Cullen Frost Bankers Inc. raised its stake in HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after purchasing an additional 507 shares during the period. NBC Securities Inc. purchased a new position in HDFC Bank during the first quarter worth approximately $55,000. Pinnacle Bancorp Inc. raised its stake in HDFC Bank by 109.7% during the first quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock worth $56,000 after purchasing an additional 443 shares during the period. Finally, Rakuten Securities Inc. raised its stake in HDFC Bank by 233.0% during the first quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after purchasing an additional 629 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Zacks Research downgraded shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. One 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

HDFC Bank Price Performance

HDB traded down $0.00 during trading hours on Thursday, reaching $70.62. 1,711,661 shares of the stock traded hands, compared to its average volume of 2,514,671. The firm's fifty day simple moving average is $75.33 and its two-hundred day simple moving average is $71.00. The company has a market cap of $180.13 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.82 and a beta of 0.63. HDFC Bank Limited has a fifty-two week low of $57.78 and a fifty-two week 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. On average, research analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Dividend Announcement

The company also recently declared a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were issued a dividend of $0.1707 per share. This represents a 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%.

HDFC Bank Company 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.