HDFC Bank Limited (NYSE:HDB) Short Interest Up 7.9% in September

HDFC Bank Limited (NYSE:HDB) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 17,500,000 shares, a growth of 7.9% from the August 31st total of 16,220,000 shares. Based on an average daily volume of 2,830,000 shares, the short-interest ratio is presently 6.2 days.

HDFC Bank Stock Performance

NYSE HDB opened at $64.35 on Monday. The firm has a market cap of $119.69 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 1.76 and a beta of 0.92. The company has a 50 day moving average of $61.33 and a 200-day moving average of $59.67. 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 has a 1-year low of $52.16 and a 1-year high of $67.44.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.27. The company had revenue of $14.03 billion during the quarter, compared to analyst estimates of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. On average, equities analysts forecast that HDFC Bank will post 2.97 earnings per share for the current fiscal year.

Institutional Trading of HDFC Bank

Several hedge funds have recently modified their holdings of the company. FIL Ltd increased its holdings in shares of HDFC Bank by 10.8% during the fourth quarter. FIL Ltd now owns 13,594,291 shares of the bank’s stock worth $912,313,000 after buying an additional 1,326,574 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of HDFC Bank by 2.3% in the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after purchasing an additional 263,690 shares in the last quarter. Harding Loevner LP increased its holdings in shares of HDFC Bank by 31.7% in the fourth quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after purchasing an additional 2,276,203 shares in the last quarter. Sustainable Growth Advisers LP increased its holdings in shares of HDFC Bank by 24.1% in the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock valued at $493,884,000 after purchasing an additional 1,711,784 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of HDFC Bank by 1.6% in the fourth quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank’s stock valued at $581,679,000 after purchasing an additional 133,791 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

HDB has been the subject of several recent research reports. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

HDFC Bank Company Profile

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.