Boston Common Asset Management LLC Acquires 24,743 Shares of HDFC Bank Limited $HDB

Key Points

• Boston Common Asset Management LLC increased its stake in HDFC Bank Limited by 5.8%, acquiring an additional 24,743 shares, bringing its total ownership to 451,858 shares worth approximately $34.6 million.
• HDFC Bank recently reported $0.37 earnings per share for the last quarter, slightly missing the consensus estimate of $0.38, and announced a special dividend yielding 101.0%.
• Research analysts have generally maintained their ratings on HDFC Bank, with some raising it to "hold", reflecting a consensus rating of "Moderate Buy."

Boston Common Asset Management LLC raised its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 451,858 shares of the bank's stock after buying an additional 24,743 shares during the quarter. HDFC Bank accounts for 1.0% of Boston Common Asset Management LLC's holdings, making the stock its 20th biggest holding. Boston Common Asset Management LLC's holdings in HDFC Bank were worth $34,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in HDFC Bank in the 2nd quarter valued at $29,000. Roxbury Financial LLC acquired a new position in HDFC Bank in the 2nd quarter valued at $30,000. Larson Financial Group LLC grew its holdings in HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock valued at $31,000 after buying an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock valued at $41,000 after buying an additional 507 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in HDFC Bank in the 1st quarter valued at $55,000. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Up 0.4%

Shares of HDB stock opened at $34.24 on Friday. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81. The company has a market cap of $174.65 billion, a P/E ratio of 21.00, a P/E/G ratio of 1.77 and a beta of 0.63. The business has a fifty day simple moving average of $36.14 and a 200 day simple moving average of $36.25.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. As a group, equities research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were given 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 currently 19.63%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of HDFC Bank in a report on Saturday, September 27th. Zacks Research raised HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Finally, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

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.

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