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 raised its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 18.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,186,551 shares of the bank's stock after acquiring 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 filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

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

HDFC Bank Stock Performance

HDB traded up $0.12 during trading on Monday, reaching $35.42. The stock had a trading volume of 1,855,031 shares, compared to its average volume of 5,001,859. The stock has a market cap of $90.35 billion, a PE ratio of 10.87, a PEG ratio of 1.81 and a beta of 0.63. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81. The business has a 50-day moving average of $75.07 and a 200-day moving average of $71.29.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. Equities research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were paid a $0.1707 dividend. This represents a yield of 101.0%. The ex-dividend date of this dividend was Thursday, July 31st. HDFC Bank's dividend payout ratio is currently 19.63%.

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.