UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $279.03 Million Position in HDFC Bank Limited $HDB

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 raised its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 3,715.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,199,717 shares of the bank's stock after purchasing 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 quarter.

Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in 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 purchasing an additional 254,395 shares during the period. Raiffeisen Bank International AG raised its stake 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 period. Immersion Capital LLP acquired a new stake in HDFC Bank during the 1st quarter valued at $19,753,000. Natixis Advisors LLC grew its holdings in shares of HDFC Bank by 20.6% during the 1st quarter. Natixis Advisors LLC now owns 2,238,560 shares of the bank's stock valued at $148,730,000 after acquiring an additional 382,267 shares in the last quarter. Finally, Eminence Capital LP grew its holdings in shares of 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 acquiring an additional 189,015 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Zacks Research cut shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One research 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 company. According to MarketBeat, HDFC Bank currently has a consensus rating of "Moderate Buy".

HDFC Bank Trading Up 0.8%

Shares of NYSE:HDB opened at $35.27 on Thursday. The stock has a market capitalization of $179.90 billion, a PE ratio of 21.63, a P/E/G ratio of 1.80 and a beta of 0.63. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81. The firm has a fifty day moving average price of $37.36 and a 200 day moving average price of $35.68.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. On average, sell-side analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were issued a $0.0854 dividend. The ex-dividend date was Thursday, July 31st. This represents a yield of 101.0%. HDFC Bank's dividend payout ratio is currently 9.82%.

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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