HDFC Bank Limited $HDB Shares Sold by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec has reduced its holdings in HDFC Bank by 3.6%, owning 134,292 shares valued at approximately $8.92 million.
• HDFC Bank's earnings report showed it missed the consensus estimate by one cent, reporting $0.74 earnings per share, while revenue exceeded expectations at $5.10 billion.
• The bank recently declared a special dividend of $0.1707 per share, resulting in an impressive yield of 101.0%.

Federation des caisses Desjardins du Quebec reduced its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,292 shares of the bank's stock after selling 4,946 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in HDFC Bank were worth $8,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GQG Partners LLC increased its stake in shares of HDFC Bank by 105.5% in the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock worth $1,076,128,000 after acquiring an additional 8,313,645 shares during the last quarter. Royal Bank of Canada increased its stake in shares of HDFC Bank by 53.5% in the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank's stock worth $745,107,000 after acquiring an additional 3,907,637 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of HDFC Bank by 2.1% in the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock worth $638,934,000 after acquiring an additional 202,032 shares during the last quarter. Temasek Holdings Private Ltd increased its stake in shares of HDFC Bank by 2.3% in the 4th quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank's stock worth $546,500,000 after acquiring an additional 190,566 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of HDFC Bank by 27.3% in the 4th quarter. Bank of America Corp DE now owns 6,373,404 shares of the bank's stock worth $407,006,000 after acquiring an additional 1,368,365 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

Shares of HDB traded up $0.06 during midday trading on Tuesday, hitting $35.44. The company had a trading volume of 690,335 shares, compared to its average volume of 4,976,958. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81. The firm has a market capitalization of $90.40 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.81 and a beta of 0.63. The company's 50-day simple moving average is $74.25 and its 200-day simple moving average is $71.12.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 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 analyst estimates of $5.03 billion. Equities analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, August 20th. Stockholders of record on Thursday, July 31st were given a dividend of $0.1707 per share. This represents a dividend yield of 101.0%. The ex-dividend date of this dividend was Thursday, July 31st. HDFC Bank's dividend payout ratio (DPR) is 19.63%.

Analyst Ratings Changes

A number of research firms have recently weighed in on HDB. Zacks Research cut HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate 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.