HDFC Bank (NYSE:HDB) Stock Rating Upgraded by Wall Street Zen

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

A number of other equities analysts have also commented on the stock. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded down $0.08 during midday trading on Friday, hitting $32.02. 5,413,472 shares of the stock were exchanged, compared to its average volume of 5,439,197. The business’s 50-day moving average price is $35.16 and its 200 day moving average price is $36.00. HDFC Bank has a 12 month low of $29.04 and a 12 month high of $39.81. The stock has a market capitalization of $163.36 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.29 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last posted its earnings results on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. The business had revenue of $16.48 billion for the quarter, compared to the consensus estimate of $5.12 billion. As a group, sell-side analysts expect that HDFC Bank will post 3.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hudson Edge Investment Partners Inc. increased its holdings in HDFC Bank by 100.6% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank’s stock worth $51,452,000 after acquiring an additional 755,200 shares during the period. Freemont Capital Pte Ltd purchased a new position in shares of HDFC Bank during the 2nd quarter valued at $1,073,000. Helios Capital Management PTE. Ltd. grew its position in shares of HDFC Bank by 100.0% during the 3rd quarter. Helios Capital Management PTE. Ltd. now owns 337,400 shares of the bank’s stock valued at $11,526,000 after purchasing an additional 168,700 shares in the last quarter. PGGM Investments increased its holdings in shares of HDFC Bank by 100.0% in the third quarter. PGGM Investments now owns 3,799,908 shares of the bank’s stock worth $129,805,000 after purchasing an additional 1,899,954 shares during the period. Finally, PineStone Asset Management Inc. raised its position in shares of HDFC Bank by 100.4% in the third quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock worth $278,873,000 after buying an additional 4,089,267 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).