Tower View Wealth Management LLC Purchases New Shares in HDFC Bank Limited $HDB

Tower View Wealth Management LLC purchased a new position in shares of HDFC Bank Limited (NYSE:HDB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 32,771 shares of the bank’s stock, valued at approximately $2,513,000.

Other institutional investors have also recently bought and sold shares of the company. New Vernon Capital Holdings II LLC bought a new position in shares of HDFC Bank during the first quarter worth approximately $1,546,956,000. GQG Partners LLC grew its position in HDFC Bank by 105.5% during the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock worth $1,076,128,000 after buying an additional 8,313,645 shares in the last quarter. Royal Bank of Canada grew its position in HDFC Bank by 53.5% during the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock worth $745,107,000 after buying an additional 3,907,637 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of HDFC Bank by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank’s stock worth $638,934,000 after purchasing an additional 202,032 shares during the period. Finally, Temasek Holdings Private Ltd raised its stake in HDFC Bank by 3.9% in the first quarter. Temasek Holdings Private Ltd now owns 8,895,662 shares of the bank’s stock valued at $591,028,000 after purchasing an additional 337,874 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 0.9%

HDFC Bank stock opened at $34.12 on Friday. The stock has a 50-day moving average price of $36.24 and a two-hundred day moving average price of $36.20. HDFC Bank Limited has a 12 month low of $28.89 and a 12 month high of $39.81. The company has a market capitalization of $174.04 billion, a PE ratio of 20.93, a P/E/G ratio of 1.74 and a beta of 0.63.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results 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 firm 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 predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Dividend Announcement

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

Analyst Upgrades and Downgrades

HDB has been the subject of a number of recent analyst reports. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, HDFC Bank presently has an average rating of “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.