Ninety One North America Inc. Buys 44,398 Shares of HDFC Bank Limited $HDB

Key Points

• Ninety One North America Inc. increased its stake in HDFC Bank Limited by 64.6%, acquiring an additional 44,398 shares during the second quarter, bringing its total holdings to 113,162 shares valued at approximately $8.68 million.
• HDFC Bank announced a special dividend of $0.0854 per share, reflecting a yield of 101.0%, and has a payout ratio of 19.63%.
• Analysts have recently upgraded HDFC Bank's stock rating from "sell" to "hold," with the current consensus rating categorized as a "Buy."

Ninety One North America Inc. grew its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 64.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,162 shares of the bank's stock after buying an additional 44,398 shares during the period. Ninety One North America Inc.'s holdings in HDFC Bank were worth $8,676,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. New Vernon Capital Holdings II LLC bought a new stake in shares of HDFC Bank during the 1st quarter valued at $1,546,956,000. GQG Partners LLC boosted its holdings in shares of HDFC Bank by 105.5% during the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock valued at $1,076,128,000 after buying an additional 8,313,645 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of HDFC Bank by 53.5% during the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank's stock valued at $745,107,000 after buying an additional 3,907,637 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of HDFC Bank by 2.1% during the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock valued at $638,934,000 after buying an additional 202,032 shares in the last quarter. Finally, Temasek Holdings Private Ltd boosted its holdings in shares of HDFC Bank by 3.9% during the 1st quarter. Temasek Holdings Private Ltd now owns 8,895,662 shares of the bank's stock valued at $591,028,000 after buying an additional 337,874 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Price Performance

Shares of HDFC Bank stock opened at $34.09 on Wednesday. The stock has a market cap of $173.91 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.76 and a beta of 0.63. The firm's 50-day moving average is $36.45 and its 200 day moving average is $36.19. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly 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). The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. On average, equities analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

The business 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 was Thursday, July 31st. This represents a yield of 101.0%. HDFC Bank's dividend payout ratio is currently 19.63%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Zacks Research upgraded 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 assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

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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