HDFC Bank Limited (NYSE:HDB) Short Interest Update

Key Points

• HDFC Bank experienced a significant increase in short interest, rising by 80.6% in August, bringing the total to 15,620,000 shares as of August 31st.
• The bank reported a quarterly EPS of $0.37, missing the consensus estimate of $0.38, despite revenue surpassing expectations at $5.10 billion.
• A special dividend of $0.0854 per share was recently declared, resulting in a remarkable dividend yield of 101.0%.

HDFC Bank Limited (NYSE:HDB - Get Free Report) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 15,620,000 shares, a growth of 80.6% from the August 15th total of 8,650,000 shares. Based on an average trading volume of 3,720,000 shares, the short-interest ratio is presently 4.2 days. Approximately 0.3% of the shares of the stock are short sold. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 3,720,000 shares, the short-interest ratio is presently 4.2 days.

Hedge Funds Weigh In On HDFC Bank

A number of large investors have recently added to or reduced their stakes in the business. New Vernon Capital Holdings II LLC purchased a new position in HDFC Bank in the 1st quarter worth $1,546,956,000. GQG Partners LLC grew its holdings in HDFC Bank by 105.5% in the 1st 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. Royal Bank of Canada grew its holdings in HDFC Bank by 53.5% in the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank's stock worth $745,107,000 after acquiring an additional 3,907,637 shares during the last quarter. Schroder Investment Management Group grew its holdings in HDFC Bank by 19.0% in the 2nd quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank's stock worth $813,830,000 after acquiring an additional 1,692,243 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in HDFC Bank by 2.1% in the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock worth $638,934,000 after acquiring an additional 202,032 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

Analyst Ratings Changes

HDB has been the subject of a number of research 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 raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

HDFC Bank Stock Performance

NYSE:HDB traded down $0.17 during trading hours on Friday, reaching $35.46. The company's stock had a trading volume of 3,559,677 shares, compared to its average volume of 3,271,725. The firm has a market capitalization of $180.87 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.83 and a beta of 0.63. The firm has a 50-day simple moving average of $36.98 and a 200-day simple moving average of $35.93. HDFC Bank has a 1 year low of $28.89 and a 1 year high of $39.81.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, July 19th. The bank reported $0.37 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 analysts' expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. Equities analysts anticipate that HDFC Bank will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were given a $0.0854 dividend. This represents a yield of 101.0%. The ex-dividend date was Thursday, July 31st. HDFC Bank's dividend payout ratio (DPR) is presently 19.63%.

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.