HDFC Bank (NYSE:HDB) Lowered to Sell at StockNews.com

HDFC Bank (NYSE:HDB) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Separately, JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

HDFC Bank Stock Performance

NYSE HDB opened at $60.54 on Friday. The business’s 50 day moving average is $61.47 and its two-hundred day moving average is $59.96. HDFC Bank has a 12-month low of $52.16 and a 12-month high of $67.44. The stock has a market capitalization of $112.60 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.95 and a beta of 0.92. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37.

HDFC Bank (NYSE:HDB) last announced its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The company had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Research analysts expect that HDFC Bank will post 2.96 EPS for the current year.

Hedge Funds Weigh In On HDFC Bank

Several large investors have recently added to or reduced their stakes in HDB. Northwest Investment Counselors LLC bought a new position in shares of HDFC Bank in the 1st quarter worth about $34,000. Janiczek Wealth Management LLC bought a new position in shares of HDFC Bank during the first quarter valued at approximately $35,000. Ridgewood Investments LLC acquired a new stake in shares of HDFC Bank during the 2nd quarter worth approximately $36,000. LRI Investments LLC bought a new stake in shares of HDFC Bank in the 1st quarter worth approximately $56,000. Finally, GAMMA Investing LLC boosted its position in HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after purchasing an additional 324 shares during the period. 17.61% of the stock is currently owned by institutional investors.

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.