Maverick Capital Ltd. Acquires 30,076 Shares of HDFC Bank Limited $HDB

Key Points

• Maverick Capital Ltd. increased its stake in HDFC Bank by 20.7%, owning a total of 175,390 shares valued at approximately $11.65 million at the end of the last reporting period.
• Several institutional investors have also significantly raised their positions in HDFC Bank, including Northern Trust Corp with a 52% increase, now holding over 1 million shares worth nearly $65 million.
• HDFC Bank's recent earnings report showed a miss on EPS estimates at $0.74, while also announcing a special dividend that offers a yield of 101.0%.

Maverick Capital Ltd. grew its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 20.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,390 shares of the bank's stock after buying an additional 30,076 shares during the quarter. Maverick Capital Ltd.'s holdings in HDFC Bank were worth $11,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of HDB. Bank Pictet & Cie Europe AG lifted its holdings in shares of HDFC Bank by 451.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock valued at $1,245,000 after buying an additional 15,955 shares during the period. First Trust Advisors LP lifted its holdings in shares of HDFC Bank by 111.7% during the 4th quarter. First Trust Advisors LP now owns 39,109 shares of the bank's stock valued at $2,498,000 after buying an additional 20,633 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of HDFC Bank during the 4th quarter valued at $580,000. The Manufacturers Life Insurance Company lifted its holdings in shares of HDFC Bank by 3.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 266,600 shares of the bank's stock valued at $17,025,000 after buying an additional 9,084 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of HDFC Bank by 52.0% during the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock valued at $64,855,000 after buying an additional 347,488 shares during the period. 17.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Zacks Research lowered HDFC Bank from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, HDFC Bank currently has an average rating of "Moderate Buy".

HDFC Bank Stock Down 0.0%

HDB stock traded down $0.04 during trading on Friday, reaching $70.61. The company's stock had a trading volume of 1,671,456 shares, compared to its average volume of 2,509,961. HDFC Bank Limited has a 1 year low of $57.78 and a 1 year high of $79.61. The company has a market capitalization of $180.09 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 1.82 and a beta of 0.63. The company's fifty day moving average is $75.20 and its 200-day moving average is $71.07.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings results 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 return on equity of 11.60% and a net margin of 14.49%.The business had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. Analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Dividend Announcement

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 dividend of $0.1707 per share. The ex-dividend date was Thursday, July 31st. This represents a dividend yield of 101.0%. HDFC Bank's dividend payout ratio (DPR) is presently 19.63%.

About HDFC Bank

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.