HDFC Bank Limited (NYSE:HDB) Sees Large Increase in Short Interest

HDFC Bank Limited (NYSE:HDB) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 15,460,000 shares, an increase of 17.5% from the June 15th total of 13,160,000 shares. Based on an average daily volume of 2,710,000 shares, the short-interest ratio is presently 5.7 days.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $60.97 on Wednesday. The firm has a market cap of $113.40 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.28 and a beta of 0.93. The stock’s 50-day moving average is $59.95 and its 200-day moving average is $58.19. HDFC Bank has a one year low of $52.16 and a one year high of $71.39. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.40 and a quick ratio of 0.52.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, April 20th. The bank reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.13. The company had revenue of $9.72 billion for the quarter. HDFC Bank had a return on equity of 15.45% and a net margin of 15.71%. Equities analysts predict that HDFC Bank will post 3.07 earnings per share for the current fiscal year.

HDFC Bank Increases Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, May 8th. Investors of record on Thursday, May 9th were paid a $0.7008 dividend. This is a boost from HDFC Bank’s previous annual dividend of $0.59. This represents a dividend yield of 1%. The ex-dividend date of this dividend was Wednesday, May 8th. HDFC Bank’s payout ratio is 18.40%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.

Institutional Investors Weigh In On HDFC Bank

Several institutional investors have recently made changes to their positions in the stock. Royal London Asset Management Ltd. lifted its stake in HDFC Bank by 234.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank’s stock worth $448,970,000 after purchasing an additional 4,687,487 shares during the last quarter. Capital World Investors lifted its stake in HDFC Bank by 208.6% during the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock worth $230,862,000 after purchasing an additional 2,788,197 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in HDFC Bank during the second quarter worth $166,709,000. PineStone Asset Management Inc. lifted its stake in HDFC Bank by 115.1% during the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after purchasing an additional 2,391,343 shares during the last quarter. Finally, Harding Loevner LP lifted its stake in HDFC Bank by 31.7% during the fourth quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock worth $621,646,000 after purchasing an additional 2,276,203 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

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.