HDFC Bank Limited $HDB is Hardman Johnston Global Advisors LLC's 3rd Largest Position

Key Points

• Hardman Johnston Global Advisors LLC reduced its stake in HDFC Bank Limited by 13.8% during the second quarter, making up approximately 6.6% of its total holdings.
• HDFC Bank recently announced a special dividend of $0.0854 per share, which resulted in a dividend yield of 101.0%, with a payout ratio of 19.63%.
• Analysts have upgraded HDFC Bank's stock rating from "sell" to "hold," with an average rating of "Buy" currently assigned to the stock.

Hardman Johnston Global Advisors LLC lessened its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 13.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,940,624 shares of the bank's stock after selling 310,200 shares during the quarter. HDFC Bank accounts for approximately 6.6% of Hardman Johnston Global Advisors LLC's holdings, making the stock its 3rd biggest position. Hardman Johnston Global Advisors LLC owned approximately 0.08% of HDFC Bank worth $148,788,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division purchased a new stake in HDFC Bank during the 2nd quarter valued at $29,000. Roxbury Financial LLC bought a new position in shares of HDFC Bank in the second quarter worth about $30,000. Larson Financial Group LLC boosted 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 worth $31,000 after purchasing an additional 426 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of HDFC Bank by 448.7% during 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. purchased a new stake in shares of HDFC Bank during the first quarter worth about $55,000. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Performance

Shares of HDB opened at $34.12 on Friday. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81. The stock has a 50-day moving average of $36.24 and a two-hundred day moving average of $36.20. The stock has a market cap of $174.04 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.74 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, July 19th. The bank reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. Analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

The company also recently disclosed a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were issued a $0.0854 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a dividend yield of 101.0%. HDFC Bank's dividend payout ratio is currently 19.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HDB shares. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Zacks Research upgraded shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "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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