Vident Advisory LLC Purchases 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 increased its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 30.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 68,677 shares of the bank's stock after purchasing an additional 16,187 shares during the period. Vident Advisory LLC's holdings in HDFC Bank were worth $4,563,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HDB. GAMMA Investing LLC lifted its stake in shares of HDFC Bank by 6.8% in the 1st quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock valued at $159,000 after purchasing an additional 153 shares during the last quarter. DMC Group LLC raised its holdings in HDFC Bank by 2.5% in the 1st quarter. DMC Group LLC now owns 7,418 shares of the bank's stock worth $493,000 after acquiring an additional 181 shares during the period. Platform Technology Partners raised its holdings in HDFC Bank by 2.7% in the 1st quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock worth $508,000 after acquiring an additional 201 shares during the period. Portside Wealth Group LLC raised its holdings in HDFC Bank by 2.7% in the 1st quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock worth $599,000 after acquiring an additional 241 shares during the period. Finally, Ieq Capital LLC raised its holdings in HDFC Bank by 7.1% in the 1st quarter. Ieq Capital LLC now owns 4,456 shares of the bank's stock worth $296,000 after acquiring an additional 294 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Trading Down 0.5%

NYSE HDB traded down $0.35 on Friday, reaching $70.29. The company's stock had a trading volume of 744,631 shares, compared to its average volume of 2,503,775. The firm has a market cap of $179.29 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.82 and a beta of 0.63. The business has a 50-day moving average price of $75.20 and a 200 day moving average price of $71.07. HDFC Bank Limited has a 52 week low of $57.78 and a 52 week high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 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 net margin of 14.49% and a return on equity of 11.60%. Analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Dividend Announcement

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

Wall Street Analysts Forecast Growth

HDB has been the topic of several recent analyst reports. Zacks Research downgraded 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 equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, HDFC Bank presently has a consensus 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.