Sather Financial Group Inc Takes Position in HDFC Bank Limited $HDB

Key Points

• Sather Financial Group Inc acquired a new stake in HDFC Bank Limited, purchasing 10,000 shares valued at approximately $767,000 during the 2nd quarter.
• HDFC Bank reported earnings of $0.37 per share for the latest quarter, falling short of analysts' expectations of $0.38, while revenue surpassed forecasts with $5.10 billion.
• A recent special dividend was declared at $0.0854 per share, representing a remarkable dividend yield of 101.0%, highlighting the bank’s robust distribution policy.

Sather Financial Group Inc bought a new stake in HDFC Bank Limited (NYSE:HDB - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,000 shares of the bank's stock, valued at approximately $767,000.

A number of other institutional investors have also recently added to or reduced their stakes in HDB. New Vernon Capital Holdings II LLC purchased a new stake in HDFC Bank during the first quarter worth about $1,546,956,000. GQG Partners LLC boosted its holdings in HDFC Bank by 105.5% during the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock worth $1,076,128,000 after buying an additional 8,313,645 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in HDFC Bank by 6,502.2% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank's stock worth $389,887,000 after buying an additional 5,779,375 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in HDFC Bank by 3,715.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank's stock worth $279,029,000 after buying an additional 4,089,647 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in HDFC Bank by 53.5% during the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank's stock worth $745,107,000 after buying an additional 3,907,637 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $34.82 on Friday. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81. The company has a market capitalization of $177.63 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.85 and a beta of 0.63. The firm's 50-day moving average is $35.78 and its two-hundred day moving average is $36.33.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings data 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). 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%. On average, analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, August 20th. Stockholders of record on Thursday, July 31st were given a $0.0854 dividend. 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 currently 19.63%.

Analysts Set New Price Targets

A number of research firms recently commented on HDB. Zacks Research raised shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Weiss Ratings reissued a "hold (c)" rating on shares of HDFC Bank in a report on Wednesday. Finally, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

HDFC Bank Company 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.

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