PGGM Investments Acquires 1,206,592 Shares of HDFC Bank Limited $HDB

Key Points

• PGGM Investments has significantly increased its stake in HDFC Bank Limited by 174.0% in the 2nd quarter, acquiring an additional 1,206,592 shares, bringing its total holdings to 1,899,954 shares.
• HDFC Bank recently declared a special dividend of $0.0854 per share, providing a substantial 101.0% dividend yield for investors.
• Analysts have mixed ratings for HDFC Bank, with one analyst giving it a "Strong Buy," while Zacks Research downgraded it from "hold" to "strong sell," leading to an overall average rating of "Moderate Buy."

PGGM Investments increased its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 174.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,899,954 shares of the bank's stock after acquiring an additional 1,206,592 shares during the period. HDFC Bank comprises about 2.5% of PGGM Investments' investment portfolio, making the stock its 10th biggest position. PGGM Investments owned 0.08% of HDFC Bank worth $145,669,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in shares of HDFC Bank by 81.0% during the 1st quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank's stock valued at $37,765,000 after acquiring an additional 254,395 shares in the last quarter. Acadian Asset Management LLC bought a new position in HDFC Bank during the 1st quarter valued at about $19,366,000. Immersion Capital LLP bought a new position in HDFC Bank during the 1st quarter valued at about $19,753,000. Raiffeisen Bank International AG lifted its holdings in HDFC Bank by 21.3% during the 1st quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank's stock valued at $12,778,000 after purchasing an additional 33,983 shares during the last quarter. Finally, Eminence Capital LP lifted its holdings in HDFC Bank by 18.9% during the 1st quarter. Eminence Capital LP now owns 1,186,551 shares of the bank's stock valued at $78,834,000 after purchasing an additional 189,015 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Zacks Research downgraded shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

HDFC Bank Trading Down 0.1%

Shares of NYSE HDB opened at $34.09 on Wednesday. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The company 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. The company has a 50-day moving average of $36.45 and a two-hundred day moving average of $36.19.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its 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 company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. As a group, equities research analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were paid 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 payout ratio is 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.

Want to see what other hedge funds are holding HDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HDFC Bank Limited (NYSE:HDB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.