Perpetual Ltd Raises Stake in HDFC Bank Limited $HDB

Key Points

• Perpetual Ltd increased its stake in HDFC Bank Limited by 1.4% in the second quarter, acquiring an additional 15,227 shares, bringing its total holdings to 1,101,834 shares valued at approximately $84.48 million.
• HDFC Bank's shares recently received mixed ratings from analysts, with one downgrade to "strong sell" by Zacks Research, while a consensus rating of "Moderate Buy" remains among analysts.
• The bank reported a quarterly EPS of $0.37, slightly missing estimates, and announced a special dividend of $0.0854, yielding 101.0% to shareholders of record.

Perpetual Ltd grew its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,101,834 shares of the bank's stock after purchasing an additional 15,227 shares during the quarter. HDFC Bank comprises approximately 1.0% of Perpetual Ltd's investment portfolio, making the stock its 28th largest position. Perpetual Ltd's holdings in HDFC Bank were worth $84,478,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new position in HDFC Bank during the 2nd quarter worth approximately $29,000. Roxbury Financial LLC bought a new position in HDFC Bank during the 2nd quarter worth approximately $30,000. Larson Financial Group LLC raised its holdings in HDFC Bank by 1,217.1% during the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after purchasing an additional 426 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in HDFC Bank by 448.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after purchasing an additional 507 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in HDFC Bank during the 1st quarter worth approximately $55,000. Institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Down 0.6%

NYSE HDB traded down $0.22 during mid-day trading on Tuesday, hitting $34.85. The company's stock had a trading volume of 887,800 shares, compared to its average volume of 4,883,740. The company's 50 day simple moving average is $36.93 and its 200 day simple moving average is $36.05. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81. The firm has a market capitalization of $177.76 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.82 and a beta of 0.63.

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 (EPS) for the quarter, missing the consensus estimate of $0.38 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 during the quarter, compared to analyst estimates of $5.03 billion. As a group, research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.0854 per share. 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%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HDB shares. Zacks Research lowered shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One investment 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.com, the company currently has an average rating of "Moderate 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.