Hudson Edge Investment Partners Inc. lessened its position in shares of HDFC Bank Limited (NYSE:HDB – Free Report) by 12.3% in the second quarter, HoldingsChannel.com reports. The fund owned 751,000 shares of the bank’s stock after selling 105,500 shares during the period. HDFC Bank comprises approximately 9.9% of Hudson Edge Investment Partners Inc.’s portfolio, making the stock its biggest holding. Hudson Edge Investment Partners Inc.’s holdings in HDFC Bank were worth $57,579,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hilltop National Bank bought a new stake in shares of HDFC Bank during the 2nd quarter worth approximately $233,000. Tower View Wealth Management LLC bought a new stake in shares of HDFC Bank during the 2nd quarter worth approximately $2,513,000. Naples Global Advisors LLC lifted its holdings in shares of HDFC Bank by 0.9% during the 2nd quarter. Naples Global Advisors LLC now owns 29,154 shares of the bank’s stock worth $2,235,000 after acquiring an additional 265 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of HDFC Bank by 8.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 4,637,982 shares of the bank’s stock worth $355,594,000 after acquiring an additional 348,294 shares during the period. Finally, BOCHK Asset Management Ltd bought a new stake in shares of HDFC Bank during the 2nd quarter worth approximately $115,000. Institutional investors own 17.61% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on HDB. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, HDFC Bank has a consensus rating of “Buy”.
HDFC Bank Price Performance
Shares of NYSE:HDB opened at $34.12 on Friday. The company has a market cap of $174.04 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.74 and a beta of 0.63. The firm has a 50 day simple moving average of $36.24 and a 200 day simple moving average of $36.20. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81.
HDFC Bank (NYSE:HDB – Get Free Report) last released its quarterly earnings results on Saturday, July 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $5.10 billion for 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%. As a group, analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.
HDFC Bank Dividend Announcement
The firm also recently declared a special dividend, which was paid on Wednesday, August 20th. Stockholders of record on Thursday, July 31st were paid a dividend of $0.0854 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a dividend yield of 101.0%. 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.
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