Wealth Enhancement Advisory Services LLC Has $869,000 Stake in HDFC Bank Limited $HDB

Wealth Enhancement Advisory Services LLC grew its position in shares of HDFC Bank Limited (NYSE:HDB) by 32.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,350 shares of the bank’s stock after buying an additional 2,780 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in HDFC Bank were worth $869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. New Vernon Capital Holdings II LLC acquired a new stake in shares of HDFC Bank during the 1st quarter valued at about $1,546,956,000. GQG Partners LLC raised its stake in shares of HDFC Bank by 105.5% in the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock valued at $1,076,128,000 after acquiring an additional 8,313,645 shares in the last quarter. Royal Bank of Canada raised its stake in shares of HDFC Bank by 53.5% in the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock valued at $745,107,000 after acquiring an additional 3,907,637 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of HDFC Bank by 2.1% in the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank’s stock valued at $638,934,000 after acquiring an additional 202,032 shares in the last quarter. Finally, Temasek Holdings Private Ltd raised its stake in shares of HDFC Bank by 3.9% in the 1st quarter. Temasek Holdings Private Ltd now owns 8,895,662 shares of the bank’s stock valued at $591,028,000 after acquiring an additional 337,874 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on HDB. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday. Wall Street Zen raised 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 given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, HDFC Bank presently has an average rating of “Buy”.

HDFC Bank Stock Up 0.9%

Shares of NYSE HDB opened at $34.12 on Friday. The business’s 50 day moving average is $36.24 and its two-hundred day moving average is $36.20. The company has a market cap of $174.04 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.74 and a beta of 0.63. HDFC Bank Limited has a 12 month low of $28.89 and a 12 month high of $39.81.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, July 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. Sell-side 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 disclosed a special dividend, which was paid on Wednesday, August 20th. Stockholders of record on Thursday, July 31st were given a dividend of $0.0854 per share. The ex-dividend date was Thursday, July 31st. This represents a dividend yield of 101.0%. HDFC Bank’s payout ratio is currently 19.63%.

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.