HDFC Bank Limited (NYSE:HDB) Short Interest Down 28.4% in August

Key Points

• HDFC Bank's short interest decreased by 28.4% in August, dropping from 12,080,000 shares to 8,650,000 shares, resulting in a short-interest ratio of 4.4 days.
• Institutional investors have shown significant interest, with Bank Pictet & Cie Europe AG increasing its holdings by 451.3% during the fourth quarter.
• HDFC Bank recently announced a special dividend of $0.1707 per share, reflecting a yield of 101.0%, with a payout ratio of 19.63%.

HDFC Bank Limited (NYSE:HDB - Get Free Report) was the recipient of a large decrease in short interest in August. As of August 15th, there was short interest totaling 8,650,000 shares, adecreaseof28.4% from the July 31st total of 12,080,000 shares. Based on an average daily trading volume, of 1,970,000 shares, the short-interest ratio is presently 4.4 days. Based on an average daily trading volume, of 1,970,000 shares, the short-interest ratio is presently 4.4 days.

Hedge Funds Weigh In On HDFC Bank

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank Pictet & Cie Europe AG lifted its holdings in shares of HDFC Bank by 451.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock valued at $1,245,000 after buying an additional 15,955 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of HDFC Bank by 2.1% during the 4th quarter. Cetera Investment Advisers now owns 16,052 shares of the bank's stock valued at $1,025,000 after buying an additional 324 shares during the last quarter. Ethic Inc. lifted its holdings in shares of HDFC Bank by 29.1% during the 4th quarter. Ethic Inc. now owns 62,770 shares of the bank's stock valued at $4,008,000 after buying an additional 14,158 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of HDFC Bank during the 4th quarter valued at about $221,000. Finally, Graham Capital Management L.P. bought a new position in shares of HDFC Bank during the 4th quarter valued at $591,000. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded up $0.12 during mid-day trading on Monday, hitting $35.42. The stock had a trading volume of 1,855,031 shares, compared to its average volume of 1,664,295. The company has a market cap of $90.35 billion, a PE ratio of 10.87, a P/E/G ratio of 1.81 and a beta of 0.63. HDFC Bank has a 12-month low of $28.89 and a 12-month high of $39.81. The company's 50 day moving average is $74.25 and its 200-day moving average is $71.12.

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

HDFC Bank Dividend Announcement

The firm also recently announced 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 payout ratio is 19.63%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Zacks Research cut shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently 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.

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