HDFC Bank Limited (NYSE:HDB) Short Interest Update

HDFC Bank Limited (NYSE:HDB) was the recipient of a large drop in short interest in the month of August. As of August 15th, there was short interest totaling 8,650,000 shares, a drop of 28.4% from the July 31st total of 12,080,000 shares. Based on an average trading volume of 1,970,000 shares, the short-interest ratio is presently 4.4 days. Based on an average trading volume of 1,970,000 shares, the short-interest ratio is presently 4.4 days.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HDB shares. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Zacks Research downgraded HDFC Bank from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On HDFC Bank

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Central Pacific Bank Trust Division purchased a new position in shares of HDFC Bank during the second quarter valued at approximately $29,000. Roxbury Financial LLC purchased a new position in HDFC Bank during the second quarter worth about $30,000. Larson Financial Group LLC boosted its holdings in HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after purchasing an additional 426 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock worth $41,000 after purchasing an additional 507 shares during the last quarter. Finally, Whipplewood Advisors LLC boosted its holdings in HDFC Bank by 112.0% during the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after purchasing an additional 290 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB opened at $35.10 on Wednesday. The stock has a 50-day moving average of $37.41 and a 200-day moving average of $35.68. The company has a market cap of $179.05 billion, a PE ratio of 21.53, a P/E/G ratio of 1.82 and a beta of 0.63. HDFC Bank has a one year low of $28.89 and a one year high of $39.81.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, July 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. Analysts expect that HDFC Bank will post 3.03 EPS for the current fiscal year.

HDFC Bank Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were issued a $0.0854 dividend. This represents a dividend yield of 101.0%. The ex-dividend date was Thursday, July 31st. HDFC Bank’s dividend payout ratio is currently 9.82%.

About HDFC Bank

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.