IFP Advisors Inc Purchases 1,414 Shares of HDFC Bank Limited $HDB

IFP Advisors Inc lifted its holdings in HDFC Bank Limited (NYSE:HDB) by 17.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 9,733 shares of the bank’s stock after acquiring an additional 1,414 shares during the quarter. IFP Advisors Inc’s holdings in HDFC Bank were worth $746,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HDB. New Vernon Capital Holdings II LLC purchased a new position in shares of HDFC Bank in the 1st quarter worth approximately $1,546,956,000. GQG Partners LLC boosted its stake in shares of HDFC Bank by 105.5% in the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock worth $1,076,128,000 after buying an additional 8,313,645 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of HDFC Bank by 6,502.2% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank’s stock worth $389,887,000 after buying an additional 5,779,375 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of HDFC Bank by 3,715.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank’s stock worth $279,029,000 after buying an additional 4,089,647 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of HDFC Bank by 53.5% in the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock worth $745,107,000 after buying an additional 3,907,637 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB stock opened at $35.05 on Tuesday. The company’s fifty day simple moving average is $35.71 and its two-hundred day simple moving average is $36.36. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81. The stock has a market capitalization of $178.78 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.85 and a beta of 0.63.

HDFC Bank (NYSE:HDB) last issued its earnings results 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 net margin of 14.49% and a return on equity of 11.60%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. Equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were issued 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 payout ratio is presently 19.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.