Hardy Reed LLC Makes New $235,000 Investment in HDFC Bank Limited $HDB

Hardy Reed LLC purchased a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,065 shares of the bank’s stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new stake in HDFC Bank in the 2nd quarter valued at approximately $29,000. Roxbury Financial LLC bought a new stake in shares of HDFC Bank during the second quarter valued at about $30,000. Larson Financial Group LLC grew its position in HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock valued at $31,000 after buying an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of HDFC Bank by 448.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock worth $41,000 after buying an additional 507 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in shares of HDFC Bank in the 1st quarter worth approximately $55,000. 17.61% of the stock is owned by institutional investors.

HDFC Bank Trading Up 1.6%

Shares of HDB stock opened at $34.79 on Tuesday. The company has a market capitalization of $177.48 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 1.77 and a beta of 0.63. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The stock’s fifty day simple moving average is $36.07 and its 200-day simple moving average is $36.30.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%.The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.03 billion. On average, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were given 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 Ratings Changes

HDB has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of HDFC Bank in a research note on Saturday, September 27th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report 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 given a Hold rating to the company. Based on data from MarketBeat.com, HDFC Bank currently has an average rating of “Moderate Buy”.

HDFC Bank Company 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.