HDFC Bank (NYSE:HDB) Shares Gap Up to $64.10

Shares of HDFC Bank Limited (NYSE:HDB) gapped up prior to trading on Tuesday . The stock had previously closed at $64.10, but opened at $65.61. HDFC Bank shares last traded at $66.08, with a volume of 891,731 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.

HDFC Bank Trading Up 3.0 %

The business’s 50 day moving average price is $58.87 and its two-hundred day moving average price is $58.53. The company has a current ratio of 0.40, a quick ratio of 0.52 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $122.83 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 1.20 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.13. HDFC Bank had a net margin of 15.71% and a return on equity of 15.45%. The company had revenue of $9.72 billion for the quarter. On average, equities analysts predict that HDFC Bank Limited will post 3.12 earnings per share for the current fiscal year.

HDFC Bank Increases Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, May 8th. Stockholders of record on Thursday, May 9th were paid a $0.7008 dividend. This is an increase from HDFC Bank’s previous annual dividend of $0.59. This represents a dividend yield of 1%. The ex-dividend date was Wednesday, May 8th. HDFC Bank’s dividend payout ratio (DPR) is presently 18.40%.

Institutional Investors Weigh In On HDFC Bank

Hedge funds have recently added to or reduced their stakes in the business. Frazier Financial Advisors LLC acquired a new stake in HDFC Bank during the 4th quarter worth approximately $29,000. GAMMA Investing LLC acquired a new stake in HDFC Bank during the 4th quarter worth approximately $33,000. Northwest Investment Counselors LLC acquired a new stake in HDFC Bank during the 1st quarter worth approximately $34,000. Parkside Financial Bank & Trust boosted its position in HDFC Bank by 89.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock worth $41,000 after buying an additional 291 shares during the period. Finally, Janiczek Wealth Management LLC acquired a new stake in HDFC Bank during the 1st quarter worth approximately $35,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

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.