HDFC Bank Limited $HDB Shares Sold by Matthews International Capital Management LLC

Key Points

• Matthews International Capital Management LLC has reduced its stake in HDFC Bank Limited by 54.6%, now holding 118,836 shares valued at approximately $9.1 million.
• Multiple hedge funds have increased their positions in HDFC Bank, with BNP Paribas Financial Markets boosting its stake by 81% during the first quarter, now owning 568,407 shares.
• HDFC Bank recently reported earnings of $0.37 EPS, missing analysts' expectations, while also announcing a special dividend of $0.0854 per share with a yield of 101%.

Matthews International Capital Management LLC lowered its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 54.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,836 shares of the bank's stock after selling 143,058 shares during the quarter. HDFC Bank makes up about 2.1% of Matthews International Capital Management LLC's holdings, making the stock its 17th largest holding. Matthews International Capital Management LLC's holdings in HDFC Bank were worth $9,111,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in shares of HDFC Bank by 81.0% during the first quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank's stock valued at $37,765,000 after acquiring an additional 254,395 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of HDFC Bank in the first quarter valued at approximately $19,366,000. Immersion Capital LLP acquired a new stake in shares of HDFC Bank in the first quarter valued at approximately $19,753,000. 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 last quarter. 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 last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

HDB has been the subject of several recent research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of HDFC Bank in a report on Saturday, September 27th. Zacks Research raised HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Finally, Wall Street Zen raised 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 assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

HDFC Bank Stock Up 0.4%

HDB stock opened at $34.24 on Friday. The business has a fifty day moving average of $36.14 and a two-hundred day moving average of $36.22. The stock has a market cap of $174.65 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth 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 posted its earnings results 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 for 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%. As a group, sell-side analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Announces Dividend

The firm also recently announced 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 of this dividend was Thursday, July 31st. This represents a yield of 101.0%. HDFC Bank's dividend payout ratio (DPR) is 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.

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