HDFC Bank (NYSE:HDB) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

HDFC Bank Limited (NYSE:HDB)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $62.81 and traded as high as $64.15. HDFC Bank shares last traded at $64.14, with a volume of 1,523,161 shares traded.

Analyst Ratings Changes

Separately, StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

HDFC Bank Stock Performance

The firm has a market cap of $162.42 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. The business’s fifty day simple moving average is $64.89 and its 200-day simple moving average is $62.81. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. The company had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current year.

Institutional Trading of HDFC Bank

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of HDFC Bank by 31.5% in the 3rd quarter. Principal Financial Group Inc. now owns 47,225 shares of the bank’s stock worth $2,954,000 after purchasing an additional 11,319 shares during the period. Franklin Resources Inc. lifted its holdings in HDFC Bank by 9.0% in the third quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock worth $420,477,000 after buying an additional 560,880 shares during the period. Peapack Gladstone Financial Corp bought a new stake in HDFC Bank during the 3rd quarter valued at approximately $353,000. Synovus Financial Corp grew its holdings in shares of HDFC Bank by 0.8% during the 3rd quarter. Synovus Financial Corp now owns 89,591 shares of the bank’s stock worth $5,605,000 after acquiring an additional 711 shares during the period. Finally, Sanctuary Advisors LLC raised its position in shares of HDFC Bank by 9.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,557 shares of the bank’s stock worth $1,971,000 after acquiring an additional 2,536 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

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.