Amundi Sells 39,356 Shares of HDFC Bank Limited $HDB

Amundi lowered its position in HDFC Bank Limited (NYSE:HDB) by 17.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,605 shares of the bank’s stock after selling 39,356 shares during the period. Amundi’s holdings in HDFC Bank were worth $12,629,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in shares of HDFC Bank by 1,217.1% in the 1st 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. Cullen Frost Bankers Inc. lifted its holdings in 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 period. NBC Securities Inc. purchased a new position in HDFC Bank in the first quarter worth $55,000. Pinnacle Bancorp Inc. grew its stake in HDFC Bank by 109.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank’s stock valued at $56,000 after purchasing an additional 443 shares during the period. Finally, Rakuten Securities Inc. increased its position in shares of HDFC Bank by 233.0% during the 1st quarter. Rakuten Securities Inc. now owns 899 shares of the bank’s stock valued at $60,000 after purchasing an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HDB shares. Zacks Research downgraded shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

HDFC Bank Stock Down 0.8%

Shares of NYSE:HDB opened at $35.10 on Wednesday. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81. The firm has a market capitalization of $179.05 billion, a PE ratio of 21.53, a P/E/G ratio of 1.82 and a beta of 0.63. The company has a 50-day moving average price of $37.41 and a two-hundred day moving average price of $35.68.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, July 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. Analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were paid 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 currently 9.82%.

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.