Hudson Edge Investment Partners Inc. Sells 105,500 Shares of HDFC Bank Limited $HDB

Key Points

• Hudson Edge Investment Partners Inc. reduced its holdings in HDFC Bank Limited by 12.3%, selling 105,500 shares, which now represent 9.9% of its portfolio.
• HDFC Bank's stock received positive adjustments from analysts, with the average rating now at "Buy."
• The bank announced a special dividend of $0.0854 per share, reflecting a significant dividend yield of 101.0%.

Hudson Edge Investment Partners Inc. cut its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 12.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 751,000 shares of the bank's stock after selling 105,500 shares during the period. HDFC Bank accounts for 9.9% of Hudson Edge Investment Partners Inc.'s portfolio, making the stock its largest holding. Hudson Edge Investment Partners Inc.'s holdings in HDFC Bank were worth $57,579,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HDB. Wealth Enhancement Advisory Services LLC increased its stake in shares of HDFC Bank by 37.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,205 shares of the bank's stock worth $396,000 after purchasing an additional 1,691 shares during the last quarter. NBC Securities Inc. bought a new position in HDFC Bank in the 1st quarter valued at about $55,000. Naples Global Advisors LLC raised its holdings in HDFC Bank by 5.4% in the 1st quarter. Naples Global Advisors LLC now owns 28,889 shares of the bank's stock valued at $1,919,000 after acquiring an additional 1,475 shares during the period. E. Ohman J or Asset Management AB raised its holdings in HDFC Bank by 7.9% in the 1st quarter. E. Ohman J or Asset Management AB now owns 123,600 shares of the bank's stock valued at $8,212,000 after acquiring an additional 9,000 shares during the period. Finally, Portside Wealth Group LLC raised its holdings in HDFC Bank by 2.7% in the 1st quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock valued at $599,000 after acquiring an additional 241 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HDB has been the topic of several research analyst reports. 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 raised shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy".

HDFC Bank Stock Up 0.9%

Shares of NYSE:HDB opened at $34.12 on Friday. The company's 50 day moving average price is $36.24 and its two-hundred day moving average price is $36.20. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81. The firm has a market cap of $174.04 billion, a PE ratio of 20.93, a PEG ratio of 1.74 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its earnings results on Saturday, July 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $5.03 billion. On average, research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Dividend Announcement

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