HDFC Bank Limited (NYSE:HDB) Short Interest Up 80.6% in August

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 daily trading volume, of 3,720,000 shares, the days-to-cover ratio is presently 4.2 days. Currently, 0.3% of the company's shares are sold short. Currently, 0.3% of the company's shares are sold short. Based on an average daily trading volume, of 3,720,000 shares, the days-to-cover ratio is presently 4.2 days.

HDFC Bank Price Performance

HDB stock traded down $0.32 during trading on Friday, hitting $35.07. 1,774,980 shares of the stock traded hands, compared to its average volume of 3,153,940. HDFC Bank has a 1 year low of $28.89 and a 1 year high of $39.81. The firm's 50 day moving average is $37.24 and its two-hundred day moving average is $35.83. The stock has a market cap of $178.91 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.80 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The firm had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.03 billion. As a group, analysts anticipate that HDFC Bank will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

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

Institutional Trading of HDFC Bank

A number of institutional investors have recently made changes to their positions in the stock. Central Pacific Bank Trust Division purchased a new position in shares of HDFC Bank in the second quarter worth approximately $29,000. Roxbury Financial LLC purchased a new position in shares of HDFC Bank in the second quarter worth approximately $30,000. Larson Financial Group LLC boosted its holdings in shares of HDFC Bank by 1,217.1% in the first quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after buying an additional 426 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of HDFC Bank by 112.0% in the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank's stock worth $42,000 after buying an additional 290 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after buying an additional 507 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on HDB. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Zacks Research lowered HDFC Bank from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.