HDFC Dividend: Board To Consider Dividend On April 20, Macquarie Sets Highest Target Price

Large cap private sector bank HDFC Bank will hold its meeting of Board of Directors on April 20 to consider financial results and interim dividend. Last trading price of HDFC Bank shares on BSE is Rs 1431.10 with intraday fall of 1.23%. The bank has a market capitalisation of Rs 10,87,152.91 crore.

HDFC Bank has a PE of 19.28 and ROE of 13.91. Earlier on Tuesday, the bank's senior management personnel, Arvind Kapil, Group Head Retail Assets - Home Loans, resigned. Check details below:

HDFC Bank To Consider Dividend: As per the regulatory filing of HDFC Bank dated March 20, 2024, "We wish to inform you that the meeting of the Board of Directors of HDFC Bank Limited ("the Bank") will be held on Saturday, April 20, 2024 to inter-alia consider the following:

a) Audited financial results for the year ended March 31, 2024 along with the consolidated accounts for the year ended March 31, 2024

b) Proposal for recommendation of dividend on the equity shares of the Bank for the financial year ended March 31, 2024."

The trading window for dealing in securities of the Bank will remain closed from March 25, 2024 to April 22, 2024 (both days inclusive) for the designated employees, directors, etc. pursuant to the applicable SEBI regulations, added the BSE filing.

HDFC Bank Shares Performance & Return: The 52-week high price of HDFC Bank stock on BSE is Rs 1757.80 apiece and 52-week low price is Rs 1363.45 apiece, respectively. HDFC Bank shares declined 15% year-to-date, fell 8% in last 6-months, again declined over 8% in last 1-year. In last 2-years, HDFC Bank share fell over 3% and gave return of over 24%. The last trading price of HDFC Bank NSE is Rs 1432.00 apiece with intraday decline of 1.20%.

HDFC Bank Dividend History: HDFC Bank announced 24 dividends since April 20, 2001. In the last 12 months, the private sector lender announced an equity dividend amounting to Rs 19.00 per share. At the current share price of Rs 1431.10 apiece, HDFC Bank's dividend yield is 1.33%.

HDFC Bank Stock Split History: HDFC Bank carried out stock split twice since July 14, 2011. HDFC Bank split the face value of its shares from Rs 2 to Re 1 in 2019.The share traded ex-split on September 19, 2019. Earlier, HDFC Bank announced stock split in 2011 in the ratio of 1:4 when the face value of the stock came down from Rs 10 to Rs 2 thus making the stock affordable.

3 Brokerages Recommend Buy, Neutral Stance

Jefferies Recommends Buy: Jefferies decided to continue with buy call on the counter with a target of Rs 1800 per share. The analyst believes that the senior management exit is a negative and smooth transition will be key. Jefferies said the bank's Head of Mortgages, Arvind Kapil, has resigned to take charge as MD & CEO of Poonawalla Fincorp from June 2024. This is a tad negative given his seniority, some recent exits at HDFC Bank to join Bandhan Bank & risk of attrition of teams.

Nomura Maintains Neutral Stance: Nomura maintained neutral call on HDFC Bank share and said it maintained a neutral stance with a target price of Rs 1625. HDFC Bank has a significant depth in senior management, which it has demonstrated in the past as well.

Macquarie Gives Buy: Macquarie has maintained an outperform view with the highest target price of Rs 2075, implying potential return of 44.99%.

Disclaimer: The stock highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.