HDFC Bank Limited $HDB Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in HDFC Bank Limited by 67.4% during the first quarter, now owning 272,824 shares valued at approximately $18.1 million.
• HDFC Bank reported earnings of $0.74 per share for the last quarter, slightly missing analysts' expectations of $0.75, while revenues came in at $5.10 billion.
• The bank announced a special dividend of $0.1707 per share, reflecting a dividend yield of 101.0%, with a payout ratio of 19.63%.

Vanguard Group Inc. raised its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 67.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 272,824 shares of the bank's stock after buying an additional 109,810 shares during the period. Vanguard Group Inc.'s holdings in HDFC Bank were worth $18,126,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC raised its position in HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock valued at $31,000 after acquiring an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of HDFC Bank by 448.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock valued at $41,000 after purchasing an additional 507 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of HDFC Bank in the 1st quarter valued at $55,000. Pinnacle Bancorp Inc. lifted its stake in shares of HDFC Bank by 109.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock valued at $56,000 after purchasing an additional 443 shares during the period. Finally, Rakuten Securities Inc. boosted its holdings in HDFC Bank by 233.0% during the first quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after buying an additional 629 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Price Performance

HDB stock traded up $0.64 during trading on Wednesday, hitting $70.53. The stock had a trading volume of 907,835 shares, compared to its average volume of 2,515,182. HDFC Bank Limited has a twelve month low of $57.78 and a twelve month high of $79.61. The company's 50-day moving average price is $75.44 and its two-hundred day moving average price is $71.00. The stock has a market capitalization of $179.89 billion, a P/E ratio of 21.62, a PEG ratio of 1.82 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The business had revenue of $5.10 billion for 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, sell-side analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were given a $0.1707 dividend. This represents a yield of 101.0%. The ex-dividend date was Thursday, July 31st. HDFC Bank's dividend payout ratio is presently 19.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Zacks Research cut HDFC Bank from a "hold" rating to a "strong sell" rating in a research report 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 given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy".

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.