E. Ohman J or Asset Management AB Decreases Stock Holdings in HDFC Bank Limited $HDB

E. Ohman J or Asset Management AB reduced its position in shares of HDFC Bank Limited (NYSE:HDB) by 11.7% in the second quarter, Holdings Channel reports. The fund owned 109,100 shares of the bank’s stock after selling 14,500 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in HDFC Bank were worth $8,365,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in HDFC Bank during the second quarter valued at $29,000. Roxbury Financial LLC purchased a new position in shares of HDFC Bank in the 2nd quarter worth $30,000. Larson Financial Group LLC increased its holdings 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. raised its position in shares of HDFC Bank by 448.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock valued at $41,000 after buying an additional 507 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in shares of HDFC Bank in the 1st quarter valued at about $55,000. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $35.07 on Monday. The firm has a market capitalization of $178.91 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.80 and a beta of 0.63. The business has a 50 day simple moving average of $37.24 and a two-hundred day simple moving average of $35.83. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81.

HDFC Bank (NYSE:HDB) last issued its quarterly 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 return on equity of 11.60% and a net margin of 14.49%.The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. Equities research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

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

Analyst Ratings Changes

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

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.