HDFC Bank Limited $HDB Shares Bought by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH significantly increased its holdings in HDFC Bank Limited by 68.3%, now owning 81,290 shares worth $6,233,000.
• HDFC Bank's stock has seen mixed analyst ratings, with a current average rating of "Moderate Buy."
• The bank recently declared a special dividend of $0.0854 per share, reflecting a yield of 101.0% with a dividend payout ratio of 19.63%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 68.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,290 shares of the bank's stock after buying an additional 32,976 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in HDFC Bank were worth $6,233,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in HDFC Bank by 81.0% during the first quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank's stock worth $37,765,000 after buying an additional 254,395 shares during the period. Acadian Asset Management LLC acquired a new position in shares of HDFC Bank in the first quarter valued at approximately $19,366,000. Raiffeisen Bank International AG increased its holdings in shares of HDFC Bank by 21.3% in 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. Immersion Capital LLP acquired a new position in shares of HDFC Bank in the first quarter valued at approximately $19,753,000. Finally, Eminence Capital LP increased its holdings in shares of HDFC Bank by 18.9% in 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.

Analysts Set New Price Targets

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

HDFC Bank Stock Down 0.6%

Shares of NYSE:HDB opened at $34.45 on Thursday. The stock's fifty day simple moving average is $36.80 and its 200-day simple moving average is $36.03. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81. The company has a market capitalization of $175.75 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.78 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last released its 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 for the quarter, compared to analysts' expectations of $5.03 billion. On average, sell-side analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Announces Dividend

The company also recently declared 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 yield of 101.0%. HDFC Bank's dividend payout ratio is currently 19.63%.

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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