Marks Group Wealth Management Inc Boosts Stock Position in HDFC Bank Limited $HDB

Marks Group Wealth Management Inc increased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,710 shares of the bank’s stock after buying an additional 2,062 shares during the period. Marks Group Wealth Management Inc’s holdings in HDFC Bank were worth $1,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in HDFC Bank during the second quarter worth $29,000. Roxbury Financial LLC acquired a new position in shares of HDFC Bank during the 2nd quarter worth about $30,000. Larson Financial Group LLC raised its position in shares of HDFC Bank by 1,217.1% during the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after purchasing an additional 426 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in HDFC Bank by 448.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock worth $41,000 after buying an additional 507 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of HDFC Bank during the first quarter valued at approximately $55,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Up 1.6%

HDB stock opened at $34.79 on Tuesday. The stock has a market cap of $177.48 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 1.77 and a beta of 0.63. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81. The business has a fifty day moving average of $36.07 and a two-hundred day moving average of $36.30.

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 company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.03 billion. As a group, sell-side analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of HDFC Bank in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to 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.