Dakota Wealth Management Cuts Position in HDFC Bank Limited $HDB

Dakota Wealth Management decreased its position in HDFC Bank Limited (NYSE:HDB) by 27.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,952 shares of the bank’s stock after selling 1,122 shares during the quarter. Dakota Wealth Management’s holdings in HDFC Bank were worth $226,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in shares of HDFC Bank in the second quarter worth $29,000. Roxbury Financial LLC acquired a new position in shares of HDFC Bank in the second quarter worth $30,000. Larson Financial Group LLC grew its stake in shares of HDFC Bank by 1,217.1% in the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock worth $41,000 after acquiring an additional 507 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of HDFC Bank in the first quarter worth $55,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB opened at $34.15 on Tuesday. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The stock has a market cap of $174.22 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.76 and a beta of 0.63. The firm has a fifty day moving average price of $36.55 and a 200 day moving average price of $36.21.

HDFC Bank (NYSE:HDB) last announced 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). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.03 billion. As a group, equities analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Dividend Announcement

The business also recently declared 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 of this dividend was Thursday, July 31st. This represents a yield of 101.0%. HDFC Bank’s payout ratio is 19.63%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Zacks Research downgraded shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. Wall Street Zen upgraded shares of 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 issued a Sell rating to the stock. According to data from MarketBeat.com, HDFC Bank 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.