KLP Kapitalforvaltning AS Has $20.28 Million Stock Position in HDFC Bank Limited $HDB

KLP Kapitalforvaltning AS increased its stake in HDFC Bank Limited (NYSE:HDB) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 262,500 shares of the bank’s stock after acquiring an additional 21,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in HDFC Bank were worth $20,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in HDFC Bank by 37.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,205 shares of the bank’s stock worth $396,000 after purchasing an additional 1,691 shares during the period. NBC Securities Inc. acquired a new stake in HDFC Bank during the first quarter worth approximately $55,000. GAMMA Investing LLC grew its stake in HDFC Bank by 6.8% during the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank’s stock worth $159,000 after purchasing an additional 153 shares during the period. SG Americas Securities LLC grew its stake in HDFC Bank by 33.8% during the first quarter. SG Americas Securities LLC now owns 17,938 shares of the bank’s stock worth $1,192,000 after purchasing an additional 4,528 shares during the period. Finally, Handelsbanken Fonder AB acquired a new stake in HDFC Bank in the first quarter valued at approximately $914,000. 17.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

HDFC Bank Trading Down 0.9%

Shares of HDFC Bank stock opened at $34.58 on Thursday. The business’s fifty day simple moving average is $35.92 and its 200 day simple moving average is $36.28. The firm has a market capitalization of $176.41 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 1.85 and a beta of 0.63. HDFC Bank Limited has a 12 month low of $28.89 and a 12 month high of $39.81.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, July 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. Analysts predict 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 was Thursday, July 31st. This represents a dividend yield of 101.0%. HDFC Bank’s payout ratio is presently 19.63%.

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.