CogentBlue Wealth Advisors LLC Grows Holdings in HDFC Bank Limited $HDB

CogentBlue Wealth Advisors LLC boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 19.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,234 shares of the bank’s stock after purchasing an additional 1,336 shares during the quarter. CogentBlue Wealth Advisors LLC’s holdings in HDFC Bank were worth $631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HDB. New Vernon Capital Holdings II LLC acquired a new stake in HDFC Bank in the 1st quarter valued at about $1,546,956,000. GQG Partners LLC grew its holdings in HDFC Bank by 105.5% during the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock valued at $1,076,128,000 after purchasing an additional 8,313,645 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of HDFC Bank by 6,502.2% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank’s stock worth $389,887,000 after acquiring 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 HDFC Bank by 3,715.5% during the first 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 in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of HDFC Bank by 53.5% during the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock valued at $745,107,000 after acquiring an additional 3,907,637 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDB stock opened at $34.07 on Friday. The stock’s fifty day moving average price is $36.65 and its 200-day moving average price is $36.14. The company has a market cap of $173.81 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.76 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 issued its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 earnings per share 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 the consensus estimate of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. As a group, analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HDB shares. Zacks Research lowered HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, August 29th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently 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.