Park Avenue Securities LLC Purchases Shares of 29,117 HDFC Bank Limited $HDB

Key Points

• Park Avenue Securities LLC has acquired 29,117 shares of HDFC Bank Limited, valued at approximately $2.23 million, as disclosed in their recent SEC filing.
• HDFC Bank's stock currently has an average rating of "Moderate Buy", with mixed analyst ratings including one Strong Buy and one Sell.
• The bank recently announced a special dividend of $0.0854 per share, representing a significant yield of 101.0% for shareholders of record.

Park Avenue Securities LLC acquired a new position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 29,117 shares of the bank's stock, valued at approximately $2,232,000.

Several other large investors have also modified their holdings of HDB. Central Pacific Bank Trust Division purchased a new stake in HDFC Bank in the second quarter valued at $29,000. Roxbury Financial LLC acquired a new stake in shares of HDFC Bank during the second quarter worth about $30,000. Larson Financial Group LLC lifted its holdings in shares of HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock valued at $41,000 after purchasing an additional 507 shares during the period. Finally, NBC Securities Inc. purchased a new position in HDFC Bank during the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HDB shares. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Zacks Research cut shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

HDFC Bank Price Performance

HDFC Bank stock opened at $34.45 on Thursday. The business has a 50 day simple moving average of $36.80 and a 200-day simple moving average of $36.03. HDFC Bank Limited has a 12 month low of $28.89 and a 12 month high of $39.81. The stock has a market capitalization of $175.75 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.78 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Dividend Announcement

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

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