Eminence Capital LP Purchases 189,015 Shares of HDFC Bank Limited $HDB

Key Points

• Eminence Capital LP increased its stake in HDFC Bank by 18.9%, now holding 1,186,551 shares valued at approximately $78.8 million.
• Other significant investors, including GQG Partners LLC and Royal Bank of Canada, have also significantly increased their holdings in HDFC Bank during the first quarter of the year.
• HDFC Bank's recent quarterly earnings report showed earnings per share of $0.74, slightly missing analyst estimates, while it also announced a special dividend with a yield of 101%.

Eminence Capital LP lifted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 18.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,186,551 shares of the bank's stock after buying an additional 189,015 shares during the quarter. Eminence Capital LP's holdings in HDFC Bank were worth $78,834,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC raised its stake in HDFC Bank by 9.7% in the first quarter. AQR Capital Management LLC now owns 82,978 shares of the bank's stock valued at $5,496,000 after purchasing an additional 7,306 shares in the last quarter. Advisors Asset Management Inc. raised its stake in HDFC Bank by 8.8% in the first quarter. Advisors Asset Management Inc. now owns 35,476 shares of the bank's stock valued at $2,357,000 after purchasing an additional 2,882 shares in the last quarter. Aprio Wealth Management LLC raised its stake in HDFC Bank by 35.0% in the first quarter. Aprio Wealth Management LLC now owns 5,424 shares of the bank's stock valued at $360,000 after purchasing an additional 1,406 shares in the last quarter. Maverick Capital Ltd. raised its stake in HDFC Bank by 20.7% in the first quarter. Maverick Capital Ltd. now owns 175,390 shares of the bank's stock valued at $11,653,000 after purchasing an additional 30,076 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its stake in HDFC Bank by 112.2% in the first quarter. Focus Partners Advisor Solutions LLC now owns 8,947 shares of the bank's stock valued at $594,000 after purchasing an additional 4,730 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Zacks Research cut HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".

HDFC Bank Trading Up 0.1%

Shares of HDB stock traded up $0.05 during trading hours on Tuesday, reaching $35.43. The company's stock had a trading volume of 962,039 shares, compared to its average volume of 4,978,656. The stock has a market capitalization of $90.37 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.81 and a beta of 0.63. The firm's fifty day simple moving average is $74.25 and its 200 day simple moving average is $71.12. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81.

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

HDFC Bank Dividend Announcement

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

HDFC Bank 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.