Naviter Wealth LLC Grows Position in HDFC Bank Limited $HDB

Naviter Wealth LLC increased its holdings in HDFC Bank Limited (NYSE:HDB) by 5.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,339 shares of the bank’s stock after acquiring an additional 1,929 shares during the quarter. Naviter Wealth LLC’s holdings in HDFC Bank were worth $3,093,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in HDFC Bank by 81.0% in the first quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank’s stock worth $37,765,000 after acquiring an additional 254,395 shares during the period. Acadian Asset Management LLC bought a new position in HDFC Bank in the first quarter worth about $19,366,000. Immersion Capital LLP bought a new position in HDFC Bank in the first quarter worth about $19,753,000. Raiffeisen Bank International AG raised its holdings in HDFC Bank by 21.3% in the first quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank’s stock worth $12,778,000 after purchasing an additional 33,983 shares in the last quarter. Finally, Eminence Capital LP raised its holdings in HDFC Bank by 18.9% in the first quarter. Eminence Capital LP now owns 1,186,551 shares of the bank’s stock worth $78,834,000 after purchasing an additional 189,015 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HDB has been the subject of a number of recent research reports. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

HDFC Bank Stock Up 0.6%

HDB opened at $35.05 on Tuesday. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81. The company has a market cap of $178.78 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 1.85 and a beta of 0.63. The firm’s 50-day moving average price is $35.71 and its 200-day moving average price is $36.36.

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 the consensus estimate of $0.38 by ($0.01). The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. On average, research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Dividend Announcement

The company also recently announced a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were given a $0.0854 dividend. The ex-dividend date was Thursday, July 31st. This represents a yield of 101.0%. HDFC Bank’s dividend payout ratio is currently 19.63%.

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.