HDFC Bank Limited $HDB Stock Position Lessened by Indus Capital Partners LLC

Key Points

• Indus Capital Partners LLC reduced its holdings in HDFC Bank Limited by 8.3% in Q1, now owning $55.46 million worth of the bank's stock.
• Multiple institutional investors have increased their stakes in HDFC Bank, with Bank Pictet & Cie Europe AG raising its position by 451.3% during the last quarter.
• HDFC Bank reported earnings of $0.74 EPS, slightly below analysts’ expectations, while maintaining a revenue of $5.10 billion for the quarter.

Indus Capital Partners LLC lessened its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 834,677 shares of the bank's stock after selling 75,900 shares during the period. HDFC Bank accounts for about 52.4% of Indus Capital Partners LLC's portfolio, making the stock its largest position. Indus Capital Partners LLC's holdings in HDFC Bank were worth $55,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after buying an additional 426 shares during the period. Cullen Frost Bankers Inc. increased its stake in HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after buying an additional 507 shares during the period. NBC Securities Inc. purchased a new position in HDFC Bank in the 1st quarter worth about $55,000. Pinnacle Bancorp Inc. increased its stake in HDFC Bank by 109.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock worth $56,000 after buying an additional 443 shares during the period. Finally, Rakuten Securities Inc. increased its stake in HDFC Bank by 233.0% in the 1st quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after buying an additional 629 shares during the period. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Up 0.1%

Shares of NYSE HDB traded up $0.06 during midday trading on Friday, reaching $71.18. 1,483,029 shares of the company's stock traded hands, compared to its average volume of 1,573,918. The stock's 50 day simple moving average is $75.62 and its 200-day simple moving average is $70.86. HDFC Bank Limited has a one year low of $57.78 and a one year high of $79.61. The company has a market cap of $181.56 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 1.82 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. Equities analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

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

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Strong 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.