HDFC Bank Limited $HDB Shares Purchased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 105.3% during the second quarter, Holdings Channel.com reports. The fund owned 6,320 shares of the bank’s stock after acquiring an additional 3,241 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in HDFC Bank were worth $485,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of HDFC Bank by 6.8% in the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank’s stock valued at $159,000 after purchasing an additional 153 shares during the last quarter. DMC Group LLC grew its holdings in HDFC Bank by 2.5% during the 1st quarter. DMC Group LLC now owns 7,418 shares of the bank’s stock valued at $493,000 after buying an additional 181 shares during the last quarter. Platform Technology Partners boosted its stake in shares of HDFC Bank by 2.7% during the first quarter. Platform Technology Partners now owns 7,644 shares of the bank’s stock valued at $508,000 after acquiring an additional 201 shares during the last quarter. Portside Wealth Group LLC boosted its stake in shares of HDFC Bank by 2.7% during the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank’s stock valued at $599,000 after acquiring an additional 241 shares during the last quarter. Finally, Naples Global Advisors LLC boosted its stake in shares of HDFC Bank by 0.9% during the second quarter. Naples Global Advisors LLC now owns 29,154 shares of the bank’s stock valued at $2,235,000 after acquiring an additional 265 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HDB has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a research note on Saturday, September 27th. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, 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 analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

HDFC Bank Stock Performance

HDB opened at $34.24 on Monday. The company’s 50 day simple moving average is $36.14 and its 200 day simple moving average is $36.28. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81. The stock has a market capitalization of $174.65 billion, a PE ratio of 21.00, a P/E/G ratio of 1.77 and a beta of 0.63.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, July 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Dividend Announcement

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

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.