Boston Common Asset Management LLC Purchases 24,743 Shares of HDFC Bank Limited $HDB

Boston Common Asset Management LLC raised its position in HDFC Bank Limited (NYSE:HDB) by 5.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 451,858 shares of the bank’s stock after buying an additional 24,743 shares during the period. HDFC Bank makes up 1.0% of Boston Common Asset Management LLC’s portfolio, making the stock its 20th biggest holding. Boston Common Asset Management LLC’s holdings in HDFC Bank were worth $34,644,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new position in shares of HDFC Bank during the second quarter worth about $29,000. Roxbury Financial LLC bought a new position in shares of HDFC Bank during the second quarter worth about $30,000. Larson Financial Group LLC raised its position in shares of HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after acquiring an additional 426 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in shares of HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock worth $41,000 after acquiring an additional 507 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in shares of HDFC Bank during the first quarter worth about $55,000. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

NYSE HDB opened at $34.24 on Friday. The business has a 50 day simple moving average of $36.14 and a 200 day simple moving average of $36.25. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81. The stock has a market capitalization of $174.65 billion, a P/E ratio of 21.00, a P/E/G ratio of 1.77 and a beta of 0.63.

HDFC Bank (NYSE:HDB) last released its earnings results 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 return on equity of 11.60% and a net margin of 14.49%.The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. Equities analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current 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 $0.0854 dividend. This represents a yield of 101.0%. The ex-dividend date of this dividend was Thursday, July 31st. HDFC Bank’s dividend payout ratio (DPR) is 19.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HDB shares. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently 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.