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

Several other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in HDFC Bank by 6.8% in the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock valued at $159,000 after purchasing an additional 153 shares during the last quarter. DMC Group LLC grew its holdings in HDFC Bank by 2.5% in the first quarter. DMC Group LLC now owns 7,418 shares of the bank's stock valued at $493,000 after purchasing an additional 181 shares during the last quarter. Platform Technology Partners grew its holdings in HDFC Bank by 2.7% in the first quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock valued at $508,000 after purchasing an additional 201 shares during the last quarter. Portside Wealth Group LLC grew its holdings in HDFC Bank by 2.7% in the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock valued at $599,000 after purchasing an additional 241 shares during the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of HDFC Bank by 7.1% during the first quarter. Ieq Capital LLC now owns 4,456 shares of the bank's stock valued at $296,000 after acquiring an additional 294 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

HDB has been the topic of a number of analyst reports. Wall Street Zen raised 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 investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, HDFC Bank currently has a consensus rating of "Moderate Buy".

HDFC Bank Stock Performance

NYSE HDB traded down $0.37 during trading hours on Monday, hitting $35.08. 3,083,899 shares of the company's stock were exchanged, compared to its average volume of 4,906,293. The business's 50 day moving average is $36.98 and its 200-day moving average is $36.02. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81. The firm has a market capitalization of $178.96 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 1.82 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 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 analysts' expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. As a group, equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

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

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.