AQR Capital Management LLC Boosts Holdings in HDFC Bank Limited $HDB

AQR Capital Management LLC grew its holdings in HDFC Bank Limited (NYSE:HDB) by 9.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,978 shares of the bank’s stock after purchasing an additional 7,306 shares during the quarter. AQR Capital Management LLC’s holdings in HDFC Bank were worth $5,496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HDB. GQG Partners LLC boosted its stake in shares of HDFC Bank by 105.5% in 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 during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in HDFC Bank by 6,502.2% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank’s stock worth $389,887,000 after acquiring an additional 5,779,375 shares during the last quarter. Royal Bank of Canada lifted its stake in HDFC Bank by 53.5% in the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock worth $745,107,000 after acquiring an additional 3,907,637 shares during the last quarter. Nuveen LLC purchased a new position in HDFC Bank in the first quarter worth approximately $178,342,000. Finally, National Bank of Canada FI lifted its stake in HDFC Bank by 81.3% in the first quarter. National Bank of Canada FI now owns 3,483,173 shares of the bank’s stock worth $231,422,000 after acquiring an additional 1,561,505 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB opened at $35.07 on Friday. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The stock has a market cap of $178.91 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.82 and a beta of 0.63. The firm has a fifty day moving average price of $37.24 and a 200 day moving average price of $35.75.

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). 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 during the quarter, compared to analysts’ expectations of $5.03 billion. As a group, equities analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

The firm 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. The ex-dividend date was Thursday, July 31st. This represents a yield of 101.0%. HDFC Bank’s payout ratio is currently 19.63%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Zacks Research downgraded shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

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.