HDFC Bank Limited (NYSE:HDB) has been given an average rating of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company.

A number of brokerages have recently weighed in on HDB. Zacks Investment Research cut shares of HDFC Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Group LLC upgraded shares of HDFC Bank Limited from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Morgan Stanley upgraded shares of HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 25th. Finally, BidaskClub upgraded shares of HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th.

ILLEGAL ACTIVITY WARNING: This story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.thecerbatgem.com/2017/09/13/hdfc-bank-limited-hdb-receives-consensus-recommendation-of-buy-from-analysts.html.

HDFC Bank Limited (NYSE HDB) traded up 0.690% during midday trading on Wednesday, reaching $99.975. 137,971 shares of the company were exchanged. The firm has a market cap of $512.38 billion, a P/E ratio of 216.162 and a beta of 0.88. The firm’s 50-day moving average is $96.23 and its 200-day moving average is $85.34. HDFC Bank Limited has a one year low of $59.00 and a one year high of $100.26.

Several institutional investors have recently modified their holdings of the company. FMR LLC lifted its stake in shares of HDFC Bank Limited by 4.1% in the second quarter. FMR LLC now owns 14,824,081 shares of the bank’s stock worth $1,289,251,000 after buying an additional 589,126 shares during the last quarter. JPMorgan Chase & Co. raised its stake in HDFC Bank Limited by 4.0% during the 1st quarter. JPMorgan Chase & Co. now owns 14,085,276 shares of the bank’s stock valued at $1,059,495,000 after purchasing an additional 538,265 shares during the last quarter. WCM Investment Management CA raised its stake in HDFC Bank Limited by 5.8% during the 2nd quarter. WCM Investment Management CA now owns 7,314,546 shares of the bank’s stock valued at $636,146,000 after purchasing an additional 403,755 shares during the last quarter. Schroder Investment Management Group raised its stake in HDFC Bank Limited by 3.6% during the 1st quarter. Schroder Investment Management Group now owns 4,471,196 shares of the bank’s stock valued at $332,478,000 after purchasing an additional 154,607 shares during the last quarter. Finally, Harding Loevner LP raised its stake in HDFC Bank Limited by 177.5% during the 2nd quarter. Harding Loevner LP now owns 3,508,003 shares of the bank’s stock valued at $305,091,000 after purchasing an additional 2,244,012 shares during the last quarter. Institutional investors and hedge funds own 17.72% 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 & Stock 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 stocks with our FREE daily email newsletter.