MGO One Seven LLC Has $354,000 Stock Position in HDFC Bank Limited $HDB

MGO One Seven LLC lowered its holdings in HDFC Bank Limited (NYSE:HDB) by 38.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,621 shares of the bank’s stock after selling 2,895 shares during the period. MGO One Seven LLC’s holdings in HDFC Bank were worth $354,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in HDFC Bank in the 2nd quarter valued at about $29,000. Roxbury Financial LLC bought a new stake in HDFC Bank in the 2nd quarter valued at about $30,000. Larson Financial Group LLC boosted its holdings 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 purchasing an additional 426 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock valued at $41,000 after purchasing an additional 507 shares during the period. Finally, Pinnacle Bancorp Inc. boosted its holdings in HDFC Bank by 109.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank’s stock valued at $56,000 after purchasing an additional 443 shares during the period. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

HDB has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, HDFC Bank currently has a consensus rating of “Moderate Buy”.

HDFC Bank Price Performance

HDB stock opened at $36.72 on Friday. The company has a 50 day simple moving average of $35.56 and a 200 day simple moving average of $36.42. The stock has a market cap of $187.33 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 1.95 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.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data 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). The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. On average, equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Announces Dividend

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. This represents a yield of 101.0%. The ex-dividend date was Thursday, July 31st. HDFC Bank’s dividend payout ratio is currently 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.