HDFC Bank (NYSE:HDB) Upgraded to “Hold” at Wall Street Zen

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

Several other research analysts have also issued reports on HDB. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

HDFC Bank Stock Down 0.2%

Shares of HDB stock traded down $0.08 during trading on Friday, hitting $32.02. The company had a trading volume of 5,413,472 shares, compared to its average volume of 5,439,197. The stock’s 50-day moving average is $35.16 and its two-hundred day moving average is $36.00. The stock has a market capitalization of $163.36 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 1.29 and a beta of 0.57. HDFC Bank has a 52 week low of $29.04 and a 52 week high of $39.81.

HDFC Bank (NYSE:HDB) last announced its earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $16.48 billion during the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. On average, research analysts predict that HDFC Bank will post 3.03 EPS for the current fiscal year.

Institutional Investors Weigh In On HDFC Bank

Hedge funds and other institutional investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division grew its position in HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after acquiring an additional 379 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of HDFC Bank by 90.4% during the third quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock valued at $29,000 after purchasing an additional 403 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of HDFC Bank by 54.5% in the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after purchasing an additional 322 shares during the last quarter. Accent Capital Management LLC grew its holdings in shares of HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after purchasing an additional 459 shares during the last quarter. Finally, Clearstead Advisors LLC increased its stake in shares of HDFC Bank by 476.8% in the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after buying an additional 739 shares during the period. Institutional investors own 17.61% of the company’s stock.

About HDFC Bank

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).