PDS Planning Inc Raises Position in HDFC Bank Limited $HDB

PDS Planning Inc lifted its position in shares of HDFC Bank Limited (NYSE:HDB) by 10.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 17,181 shares of the bank’s stock after buying an additional 1,653 shares during the quarter. PDS Planning Inc’s holdings in HDFC Bank were worth $1,317,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HDB. New Vernon Capital Holdings II LLC purchased a new stake in HDFC Bank during the 1st quarter valued at $1,546,956,000. GQG Partners LLC lifted its holdings in shares of HDFC Bank by 105.5% during the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock valued at $1,076,128,000 after purchasing an additional 8,313,645 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of HDFC Bank by 6,502.2% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank’s stock valued at $389,887,000 after purchasing an additional 5,779,375 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in HDFC Bank by 3,715.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank’s stock worth $279,029,000 after buying an additional 4,089,647 shares during the last quarter. Finally, Royal Bank of Canada raised its position 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 buying an additional 3,907,637 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

NYSE:HDB opened at $34.82 on Friday. The firm has a market capitalization of $177.63 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 1.84 and a beta of 0.63. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81. The business has a fifty day moving average price of $35.78 and a 200-day moving average price of $36.30.

HDFC Bank (NYSE:HDB) 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). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. On average, equities research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.0854 per share. 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%.

Analyst Ratings Changes

A number of brokerages have recently commented on HDB. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

HDFC Bank 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.