E. Ohman J or Asset Management AB Sells 14,500 Shares of HDFC Bank Limited $HDB

Key Points

• E. Ohman J or Asset Management AB sold 14,500 shares of HDFC Bank, reducing its holdings by 11.7%, leaving it with 109,100 shares valued at $8,365,000.
• HDFC Bank recently declared a special dividend of $0.0854, which resulted in a yield of 101.0% for shareholders of record as of July 31st.
• Wall Street analysts have mixed ratings on HDFC Bank, with one research firm issuing a strong sell rating while others maintain a consensus rating of moderate buy.

E. Ohman J or Asset Management AB reduced its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 11.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,100 shares of the bank's stock after selling 14,500 shares during the quarter. E. Ohman J or Asset Management AB's holdings in HDFC Bank were worth $8,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Central Pacific Bank Trust Division bought a new position in HDFC Bank during the 2nd quarter valued at about $29,000. Roxbury Financial LLC purchased a new position in shares of HDFC Bank during the second quarter valued at approximately $30,000. Larson Financial Group LLC lifted its position in HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock valued at $31,000 after purchasing an additional 426 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in HDFC Bank by 448.7% in 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 last quarter. Finally, NBC Securities Inc. bought a new stake in HDFC Bank in the 1st quarter worth approximately $55,000. 17.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HDB shares. Zacks Research cut HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. 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 assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

HDFC Bank Trading Down 0.9%

NYSE:HDB opened at $35.07 on Monday. The stock has a 50-day moving average price of $37.24 and a 200 day moving average price of $35.83. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81. The stock has a market capitalization of $178.91 billion, a P/E ratio of 21.52, a P/E/G ratio of 1.80 and a beta of 0.63.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.38 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 analysts' expectations of $5.03 billion. On average, research analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were issued a $0.0854 dividend. This represents a yield of 101.0%. The ex-dividend date was Thursday, July 31st. HDFC Bank's payout ratio is currently 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.

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