Ninety One SA PTY Ltd Has $5.69 Million Stock Position in HDFC Bank Limited $HDB

Key Points

• Ninety One SA PTY Ltd increased its holdings in HDFC Bank Limited by 49.6% in Q2, owning 74,254 shares valued at $5.69 million.
• HDFC Bank reported a quarterly earnings per share of $0.37, missing analysts' estimates, but achieved revenue of $5.10 billion, exceeding expectations.
• The bank declared a special dividend of $0.0854 per share, resulting in a significant 101.0% dividend yield.

Ninety One SA PTY Ltd lifted its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 49.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,254 shares of the bank's stock after buying an additional 24,617 shares during the quarter. Ninety One SA PTY Ltd's holdings in HDFC Bank were worth $5,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. New Vernon Capital Holdings II LLC bought a new position in HDFC Bank in the 1st quarter worth $1,546,956,000. GQG Partners LLC grew its position in shares of HDFC Bank by 105.5% in the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock valued at $1,076,128,000 after purchasing an additional 8,313,645 shares during the last quarter. Royal Bank of Canada grew its position in shares of HDFC Bank by 53.5% in the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank's stock valued at $745,107,000 after purchasing an additional 3,907,637 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in 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 purchasing an additional 202,032 shares during the period. Finally, Temasek Holdings Private Ltd boosted its stake in 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 purchasing an additional 337,874 shares during the period. Institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Down 0.1%

HDB opened at $34.09 on Wednesday. The stock has a market cap of $173.91 billion, a PE ratio of 20.91, a P/E/G ratio of 1.76 and a beta of 0.63. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81. The stock's 50 day simple moving average is $36.45 and its 200-day simple moving average is $36.19.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Saturday, July 19th. The bank reported $0.37 earnings per share 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. Equities analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Wednesday, August 20th. Stockholders of record on Thursday, July 31st were issued a dividend of $0.0854 per share. This represents a dividend yield of 101.0%. The ex-dividend date of this dividend was Thursday, July 31st. HDFC Bank's dividend payout ratio (DPR) is presently 19.63%.

Analysts Set New Price Targets

A number of brokerages have recently commented on HDB. Wall Street Zen upgraded 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 research report on Monday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy".

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.

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