Vident Advisory LLC Buys 16,187 Shares of HDFC Bank Limited $HDB

Key Points

• Vident Advisory LLC has increased its stake in HDFC Bank Limited by 30.8%, now holding 68,677 shares valued at approximately $4.56 million.
• HDFC Bank reported $0.74 earnings per share (EPS) for the last quarter, slightly missing the consensus estimate by $0.01, with a revenue of $5.10 billion.
• The bank also announced a special dividend of $0.1707 per share with a yield of 101%, reflecting its strong financial position despite recent earnings results.

Vident Advisory LLC boosted its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 30.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,677 shares of the bank's stock after purchasing an additional 16,187 shares during the quarter. Vident Advisory LLC's holdings in HDFC Bank were worth $4,563,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. GQG Partners LLC boosted its position 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 acquiring an additional 8,313,645 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in HDFC Bank by 6,502.2% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank's stock valued at $389,887,000 after buying an additional 5,779,375 shares during the last quarter. Nuveen LLC bought a new stake in shares of HDFC Bank during the 1st quarter valued at about $178,342,000. Royal Bank of Canada boosted its holdings in shares of HDFC Bank by 43.0% during the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after acquiring an additional 2,196,315 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of HDFC Bank by 81.3% during the first quarter. National Bank of Canada FI now owns 3,483,173 shares of the bank's stock valued at $231,422,000 after purchasing an additional 1,561,505 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

Shares of HDB traded up $0.76 during trading hours on Wednesday, hitting $70.65. 1,541,116 shares of the stock were exchanged, compared to its average volume of 2,519,222. The firm has a market capitalization of $180.21 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 1.82 and a beta of 0.63. HDFC Bank Limited has a fifty-two week low of $57.78 and a fifty-two week high of $79.61. The business has a 50-day moving average of $75.44 and a 200-day moving average of $71.00.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The company had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HDB. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Zacks Research cut HDFC Bank from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. One equities research 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.com, the stock currently 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.