DMC Group LLC Grows Stock Holdings in HDFC Bank Limited $HDB

DMC Group LLC boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 20.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,965 shares of the bank’s stock after buying an additional 1,547 shares during the period. DMC Group LLC’s holdings in HDFC Bank were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets grew 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 valued at $37,765,000 after buying an additional 254,395 shares in the last quarter. Acadian Asset Management LLC purchased a new position in HDFC Bank during the first quarter valued at approximately $19,366,000. Immersion Capital LLP purchased a new position in HDFC Bank during the first quarter valued at approximately $19,753,000. Raiffeisen Bank International AG grew its stake in HDFC Bank by 21.3% during the first 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 grew 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 valued at $78,834,000 after purchasing an additional 189,015 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $34.87 on Wednesday. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81. The firm has a fifty day moving average of $35.99 and a 200 day moving average of $36.29. The firm has a market capitalization of $177.87 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.80 and a beta of 0.63.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data 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 firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.03 billion. On average, sell-side analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

The company 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. 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 currently 19.63%.

Analyst Upgrades and Downgrades

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