Figure 8 Investment Strategies LLC Boosts Stock Position in HDFC Bank Limited $HDB

Figure 8 Investment Strategies LLC raised its stake in HDFC Bank Limited (NYSE:HDB) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,830 shares of the bank’s stock after acquiring an additional 455 shares during the period. HDFC Bank accounts for approximately 1.8% of Figure 8 Investment Strategies LLC’s portfolio, making the stock its 21st largest position. Figure 8 Investment Strategies LLC’s holdings in HDFC Bank were worth $1,827,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HDB. Wealth Enhancement Advisory Services LLC boosted its stake in HDFC Bank by 37.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,205 shares of the bank’s stock valued at $396,000 after acquiring an additional 1,691 shares in the last quarter. NBC Securities Inc. acquired a new position in HDFC Bank in the first quarter valued at $55,000. Naples Global Advisors LLC boosted its stake in HDFC Bank by 5.4% in the first quarter. Naples Global Advisors LLC now owns 28,889 shares of the bank’s stock valued at $1,919,000 after acquiring an additional 1,475 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in HDFC Bank by 7.9% in the first quarter. E. Ohman J or Asset Management AB now owns 123,600 shares of the bank’s stock valued at $8,212,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its stake in HDFC Bank by 2.7% in the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank’s stock valued at $599,000 after acquiring an additional 241 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB opened at $34.24 on Friday. HDFC Bank Limited has a fifty-two week low of $28.89 and a fifty-two week high of $39.81. The company has a market capitalization of $174.65 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.76 and a beta of 0.63. The firm has a 50-day simple moving average of $36.14 and a 200-day simple moving average of $36.22.

HDFC Bank (NYSE:HDB) last announced 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). 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 analyst estimates of $5.03 billion. Equities research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Announces Dividend

The company also recently disclosed a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were given a $0.0854 dividend. The ex-dividend date was Thursday, July 31st. This represents a yield of 101.0%. HDFC Bank’s dividend payout ratio (DPR) is presently 19.63%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on HDB shares. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research note on Saturday, September 27th. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, 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 research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.