HDFC Bank Limited $HDB Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS AM significantly increased its stake in HDFC Bank by 3,715.5%, now holding 4.2 million shares valued at approximately $279 million.
• Other investors such as BNP Paribas Financial Markets and Raiffeisen Bank also raised their stakes in HDFC Bank, highlighting increased institutional interest in the company.
• HDFC Bank's recent quarterly earnings missed estimates, reporting earnings of $0.37 per share against a forecast of $0.38, but the bank also announced a special dividend with a yield of 101%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 3,715.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,199,717 shares of the bank's stock after acquiring an additional 4,089,647 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.17% of HDFC Bank worth $279,029,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of HDFC Bank by 6.8% during the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock valued at $159,000 after buying an additional 153 shares during the period. DMC Group LLC boosted its holdings in HDFC Bank by 2.5% during the 1st quarter. DMC Group LLC now owns 7,418 shares of the bank's stock valued at $493,000 after acquiring an additional 181 shares during the period. Platform Technology Partners boosted its holdings in HDFC Bank by 2.7% during the 1st quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock valued at $508,000 after acquiring an additional 201 shares during the period. Portside Wealth Group LLC grew its position in HDFC Bank by 2.7% in the 1st quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock valued at $599,000 after acquiring an additional 241 shares during the last quarter. Finally, Ieq Capital LLC increased its stake in HDFC Bank by 7.1% in the first quarter. Ieq Capital LLC now owns 4,456 shares of the bank's stock worth $296,000 after purchasing an additional 294 shares during the period. 17.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

HDFC Bank Stock Up 0.3%

Shares of NYSE HDB traded up $0.12 during midday trading on Tuesday, reaching $35.20. 1,102,898 shares of the company's stock traded hands, compared to its average volume of 4,923,504. The company has a market cap of $179.55 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 1.80 and a beta of 0.63. The stock's 50 day simple moving average is $37.19 and its 200-day simple moving average is $35.86. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its 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). The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. Equities analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were paid a $0.0854 dividend. This represents a yield of 101.0%. The ex-dividend date 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.