HB Wealth Management LLC Sells 1,235 Shares of HDFC Bank Limited $HDB

HB Wealth Management LLC decreased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 16.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,445 shares of the bank’s stock after selling 1,235 shares during the period. HB Wealth Management LLC’s holdings in HDFC Bank were worth $494,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 254,395 shares during the period. Acadian Asset Management LLC bought a new stake in HDFC Bank during the first quarter valued at about $19,366,000. Immersion Capital LLP acquired a new stake in shares of HDFC Bank in the first quarter valued at about $19,753,000. Raiffeisen Bank International AG increased its stake in shares of HDFC Bank by 21.3% in the first 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 during the period. Finally, Eminence Capital LP lifted its position in shares of HDFC Bank by 18.9% during the 1st quarter. Eminence Capital LP now owns 1,186,551 shares of the bank’s stock worth $78,834,000 after purchasing an additional 189,015 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Up 0.4%

Shares of HDB opened at $34.24 on Monday. The stock’s fifty day simple moving average is $36.14 and its 200-day simple moving average is $36.28. The firm has a market capitalization of $174.65 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 1.77 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 released 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 company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. Analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Announces Dividend

The firm 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. 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%.

Analyst Ratings Changes

Several brokerages have commented on HDB. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research note on Saturday, September 27th. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

About HDFC Bank

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.