InTrack Investment Management Inc Takes Position in HDFC Bank Limited $HDB

InTrack Investment Management Inc bought a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 6,708 shares of the bank’s stock, valued at approximately $514,000.

Other institutional investors have also made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new stake in shares of HDFC Bank during the 2nd quarter valued at about $29,000. Roxbury Financial LLC acquired a new stake in shares of HDFC Bank during the 2nd quarter valued at about $30,000. Larson Financial Group LLC boosted its position in shares of HDFC Bank by 1,217.1% during the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock valued at $31,000 after acquiring an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock valued at $41,000 after buying an additional 507 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in HDFC Bank in the first quarter valued at about $55,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Price Performance

HDB opened at $34.58 on Thursday. The company has a market cap of $176.41 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 1.85 and a beta of 0.63. The firm has a 50 day simple moving average of $35.92 and a 200 day simple moving average of $36.28. HDFC Bank Limited has a fifty-two week low of $28.89 and a fifty-two week high of $39.81.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, July 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business 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 EPS for the current year.

HDFC Bank Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.