Equities Analysts Offer Predictions for HDFC Bank Limited’s FY2020 Earnings (HDB)
HDFC Bank Limited (NYSE:HDB) – Jefferies Group upped their FY2020 EPS estimates for shares of HDFC Bank Limited in a research note issued on Tuesday. Jefferies Group analyst N. Karfa now expects that the bank will earn $5.09 per share for the year, up from their prior estimate of $4.63. Jefferies Group has a “Buy” rating on the stock.
HDB has been the subject of several other reports. BidaskClub cut HDFC Bank Limited from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Thursday, June 1st. Finally, Morgan Stanley upgraded HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. HDFC Bank Limited has a consensus rating of “Buy” and an average price target of $103.00.
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Shares of HDFC Bank Limited (HDB) remained flat at $96.32 during mid-day trading on Thursday. The company’s stock had a trading volume of 363,795 shares. The company has a market capitalization of $493.65 billion, a P/E ratio of 209.62 and a beta of 0.85. The company’s 50 day moving average price is $89.34 and its 200-day moving average price is $78.87. HDFC Bank Limited has a 12-month low of $59.00 and a 12-month high of $97.20.
The firm also recently announced an annual dividend, which was paid on Thursday, June 29th. Investors of record on Thursday, June 29th were given a dividend of $0.493 per share. The ex-dividend date of this dividend was Tuesday, June 27th.
A number of institutional investors have recently bought and sold shares of HDB. Parallel Advisors LLC raised its stake in shares of HDFC Bank Limited by 17.1% in the first quarter. Parallel Advisors LLC now owns 1,280 shares of the bank’s stock valued at $104,000 after buying an additional 187 shares during the period. Creative Planning raised its stake in shares of 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. Independent Portfolio Consultants Inc. raised its stake in shares of HDFC Bank Limited by 744.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,689 shares of the bank’s stock valued at $147,000 after buying an additional 1,489 shares during the period. Huntington National Bank raised its stake in shares of HDFC Bank Limited by 4.9% in the second quarter. Huntington National Bank now owns 1,730 shares of the bank’s stock valued at $150,000 after buying an additional 81 shares during the period. Finally, Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in shares of HDFC Bank Limited during the first quarter valued at about $201,000. 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.
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