Financiere des Professionnels Fonds d investissement inc. Cuts Position in HDFC Bank Limited $HDB

Key Points

• Financiere des Professionnels Fonds d investissement inc. has reduced its holdings in HDFC Bank by 6.3%, selling 11,825 shares and now owns 177,170 shares, valued at approximately $13.58 million.
• Analyst ratings for HDFC Bank show mixed reviews, with one firm upgrading the stock to "hold" while another downgraded it to "strong sell," resulting in an overall average rating of "Moderate Buy."
• HDFC Bank's recent quarterly results revealed an earnings per share of $0.37, slightly below the consensus estimate, alongside a declared special dividend of $0.0854 per share.

Financiere des Professionnels Fonds d investissement inc. reduced its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,170 shares of the bank's stock after selling 11,825 shares during the quarter. HDFC Bank comprises about 0.8% of Financiere des Professionnels Fonds d investissement inc.'s investment portfolio, making the stock its 25th biggest position. Financiere des Professionnels Fonds d investissement inc.'s holdings in HDFC Bank were worth $13,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in HDFC Bank by 6.8% in the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock worth $159,000 after purchasing an additional 153 shares in the last quarter. DMC Group LLC lifted its holdings in HDFC Bank by 2.5% during the first quarter. DMC Group LLC now owns 7,418 shares of the bank's stock worth $493,000 after buying an additional 181 shares during the period. Platform Technology Partners lifted its holdings in HDFC Bank by 2.7% during the first quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock worth $508,000 after buying an additional 201 shares during the period. Portside Wealth Group LLC lifted its holdings in HDFC Bank by 2.7% during the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock worth $599,000 after buying an additional 241 shares during the period. Finally, Ieq Capital LLC lifted its holdings in HDFC Bank by 7.1% during the first quarter. Ieq Capital LLC now owns 4,456 shares of the bank's stock worth $296,000 after buying an additional 294 shares during the period. Institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Down 0.5%

Shares of NYSE HDB traded down $0.17 during trading on Friday, reaching $35.46. 3,559,677 shares of the company traded hands, compared to its average volume of 3,271,725. The firm's fifty day simple moving average is $36.98 and its 200 day simple moving average is $35.97. The stock has a market cap of $180.87 billion, a P/E ratio of 21.75, a PEG ratio of 1.82 and a beta of 0.63. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 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 expect that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Announces Dividend

The business also recently disclosed a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.0854 per share. The ex-dividend date was Thursday, July 31st. This represents a dividend yield of 101.0%. HDFC Bank's dividend payout ratio (DPR) is presently 19.63%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HDB shares. Zacks Research lowered HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

About HDFC Bank

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.