HDFC Bank Limited $HDB Shares Acquired by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd has increased its stake in HDFC Bank by 20.4%, acquiring a total of 702,501 shares valued at approximately $53.86 million as of its latest filing.
• HDFC Bank recently reported earnings per share (EPS) of $0.37 for the quarter, slightly missing the consensus estimate of $0.38, with revenue reaching $5.10 billion.
• The bank declared a special dividend of $0.0854, representing an impressive dividend yield of 101.0%, with a payout ratio of 19.63%.

Ninety One UK Ltd raised its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 20.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 702,501 shares of the bank's stock after purchasing an additional 118,976 shares during the quarter. Ninety One UK Ltd's holdings in HDFC Bank were worth $53,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of HDFC Bank by 81.0% in the first quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank's stock valued at $37,765,000 after purchasing an additional 254,395 shares during the period. Acadian Asset Management LLC acquired a new stake in HDFC Bank in the 1st quarter valued at approximately $19,366,000. Immersion Capital LLP acquired a new stake in HDFC Bank in the 1st quarter valued at approximately $19,753,000. Raiffeisen Bank International AG increased its holdings in shares of HDFC Bank by 21.3% during the first quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank's stock valued at $12,778,000 after purchasing an additional 33,983 shares during the period. Finally, Eminence Capital LP increased its holdings in shares of HDFC Bank by 18.9% during the first quarter. Eminence Capital LP now owns 1,186,551 shares of the bank's stock valued at $78,834,000 after purchasing an additional 189,015 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Stock Down 0.1%

NYSE:HDB opened at $34.09 on Wednesday. The business's 50-day moving average price is $36.45 and its 200 day moving average price is $36.19. The firm has a market cap of $173.91 billion, a P/E ratio of 20.91, a PEG ratio of 1.76 and a beta of 0.63. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81.

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 the consensus estimate of $0.38 by ($0.01). The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. Sell-side analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Announces Dividend

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

Analysts Set New Price Targets

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

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.

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