HDFC Bank (NYSE:HDB) Lifted to “Hold” at StockNews.com

HDFC Bank (NYSE:HDB) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

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

HDFC Bank Stock Performance

Shares of HDB traded up $0.73 during midday trading on Friday, reaching $61.02. 4,121,430 shares of the stock were exchanged, compared to its average volume of 3,132,432. The stock’s 50 day simple moving average is $61.47 and its 200 day simple moving average is $59.82. The company has a market cap of $113.48 billion, a P/E ratio of 18.72, a PEG ratio of 1.76 and a beta of 0.92. HDFC Bank has a twelve month low of $52.16 and a twelve month high of $67.44. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37.

HDFC Bank (NYSE:HDB) last issued 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. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The business had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. On average, sell-side analysts expect that HDFC Bank will post 2.97 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FIL Ltd raised its position in shares of HDFC Bank by 10.8% in the 4th quarter. FIL Ltd now owns 13,594,291 shares of the bank’s stock valued at $912,313,000 after buying an additional 1,326,574 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of HDFC Bank by 2.3% during the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock worth $741,932,000 after purchasing an additional 263,690 shares during the period. Harding Loevner LP grew its stake 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 worth $621,646,000 after purchasing an additional 2,276,203 shares during the last quarter. Sustainable Growth Advisers LP grew its stake 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 worth $493,884,000 after purchasing an additional 1,711,784 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in HDFC Bank by 11.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank’s stock valued at $308,214,000 after purchasing an additional 486,653 shares during the period. Institutional investors and hedge funds 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.