HDFC Bank Limited (HDB) Rating Increased to Buy at Jefferies Group LLC
Jefferies Group LLC upgraded shares of HDFC Bank Limited (NYSE:HDB) from a hold rating to a buy rating in a report published on Tuesday, The Fly reports. Jefferies Group also issued estimates for HDFC Bank Limited’s FY2018 earnings at $3.18 EPS, FY2019 earnings at $4.02 EPS and FY2020 earnings at $5.09 EPS.
A number of other analysts also recently issued reports on the company. Morgan Stanley upgraded HDFC Bank Limited from an equal weight rating to an overweight rating in a research report on Tuesday. BidaskClub upgraded HDFC Bank Limited from a buy rating to a strong-buy rating in a research report on Monday, July 24th. Finally, Zacks Investment Research upgraded HDFC Bank Limited from a hold rating to a buy rating and set a $103.00 price target for the company in a research report on Friday, July 21st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. HDFC Bank Limited presently has an average rating of Buy and a consensus price target of $103.00.
HDFC Bank Limited (HDB) traded up 0.57% during midday trading on Tuesday, reaching $96.84. 335,182 shares of the company were exchanged. The firm has a market capitalization of $496.31 billion, a PE ratio of 210.98 and a beta of 0.85. The company has a 50-day moving average of $89.81 and a 200 day moving average of $79.26. HDFC Bank Limited has a 52 week low of $59.00 and a 52 week high of $97.20.
The business also recently declared a None dividend, which will be paid on Thursday, August 3rd. Investors of record on Thursday, June 29th will be given a $0.494 dividend. The ex-dividend date of this dividend is Tuesday, June 27th.
Several hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in HDFC Bank Limited during the fourth quarter valued at $3,648,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in HDFC Bank Limited during the fourth quarter valued at $896,000. UBS Asset Management Americas Inc. increased its stake in HDFC Bank Limited by 0.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 301,554 shares of the bank’s stock valued at $18,298,000 after buying an additional 2,800 shares during the period. Creative Planning increased its stake in HDFC Bank Limited by 6.3% in the first quarter. Creative Planning now owns 1,700 shares of the bank’s stock valued at $128,000 after buying an additional 100 shares during the period. Finally, Vontobel Asset Management Inc. increased its stake in HDFC Bank Limited by 7.4% in the first quarter. Vontobel Asset Management Inc. now owns 3,285,280 shares of the bank’s stock valued at $264,645,000 after buying an additional 225,034 shares during the period. Institutional investors and hedge funds own 18.60% of the company’s stock.
About HDFC Bank Limited
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.
Receive News & Ratings for HDFC Bank Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HDFC Bank Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.