Ritholtz Wealth Management Raises Stake in HDFC Bank Limited $HDB

Ritholtz Wealth Management increased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 65.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,785 shares of the bank’s stock after purchasing an additional 5,075 shares during the period. Ritholtz Wealth Management’s holdings in HDFC Bank were worth $980,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in HDFC Bank by 81.0% during the 1st quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank’s stock worth $37,765,000 after purchasing an additional 254,395 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of HDFC Bank in the 1st quarter valued at about $19,366,000. Immersion Capital LLP purchased a new stake in shares of HDFC Bank in the 1st quarter valued at about $19,753,000. Raiffeisen Bank International AG raised its holdings in shares of HDFC Bank by 21.3% in the 1st quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank’s stock valued at $12,778,000 after acquiring an additional 33,983 shares in the last quarter. Finally, Eminence Capital LP raised its holdings in shares of HDFC Bank by 18.9% in the 1st quarter. Eminence Capital LP now owns 1,186,551 shares of the bank’s stock valued at $78,834,000 after acquiring an additional 189,015 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 3.6%

Shares of HDFC Bank stock opened at $36.72 on Friday. The firm has a market capitalization of $187.33 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.95 and a beta of 0.63. The business’s 50-day moving average price is $35.56 and its 200-day moving average price is $36.42. HDFC Bank Limited has a 12 month low of $28.89 and a 12 month high of $39.81.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, analysts predict 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 dividend payout ratio is 19.63%.

Wall Street Analyst Weigh In

Several research firms have weighed in on HDB. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Finally, Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock 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.