Farther Finance Advisors LLC Acquires 1,391 Shares of HDFC Bank Limited $HDB

Farther Finance Advisors LLC boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 50.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,137 shares of the bank’s stock after acquiring an additional 1,391 shares during the period. Farther Finance Advisors LLC’s holdings in HDFC Bank were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HDB. BNP Paribas Financial Markets boosted its stake in HDFC Bank by 81.0% in the 1st quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank’s stock worth $37,765,000 after purchasing an additional 254,395 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in HDFC Bank in the 1st quarter worth approximately $19,366,000. Immersion Capital LLP acquired a new stake in HDFC Bank in the 1st quarter worth approximately $19,753,000. Raiffeisen Bank International AG boosted its stake in HDFC Bank by 21.3% in the 1st quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank’s stock worth $12,778,000 after purchasing an additional 33,983 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake 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 purchasing an additional 3,907,637 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HDB has been the subject of a number of recent analyst reports. Zacks Research cut 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 analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

HDFC Bank Price Performance

NYSE:HDB opened at $34.15 on Tuesday. The firm has a market cap of $174.22 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.76 and a beta of 0.63. The company has a 50 day moving average price of $36.55 and a 200-day moving average price of $36.21. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81.

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

HDFC Bank Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were issued a $0.0854 dividend. This represents a yield of 101.0%. The ex-dividend date of this dividend was Thursday, July 31st. HDFC Bank’s payout ratio 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.