HDFC Bank Limited (NYSE:HDB – Get Free Report)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $22.26 and last traded at $22.0550, with a volume of 64319 shares. The stock had previously closed at $22.48.
More HDFC Bank News
Here are the key news stories impacting HDFC Bank this week:
- Positive Sentiment: A recent value-stock comparison highlighted HDFC Bank as an option for investors evaluating large international banks. However, the article offered analysis rather than a new company-specific catalyst. BNPQY or HDB: Which Is the Better Value Stock Right Now?
Analyst Ratings Changes
A number of equities research analysts have recently commented on HDB shares. HSBC lowered shares of HDFC Bank from a “buy” rating to a “hold” rating in a research note on Monday, August 31st. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Wall Street Zen downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group initiated coverage on shares of HDFC Bank in a research report on Friday, August 21st. They set a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold”.
HDFC Bank Stock Performance
The firm has a market capitalization of $113.12 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.29 and a beta of 0.63. The business’s 50 day moving average is $24.14 and its two-hundred day moving average is $25.49.
HDFC Bank (NYSE:HDB – Get Free Report) last issued its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. HDFC Bank had a return on equity of 11.84% and a net margin of 15.96%.The business had revenue of $9.01 billion for the quarter, compared to analysts’ expectations of $5 billion. As a group, equities research analysts predict that HDFC Bank Limited will post 1.36 EPS for the current year.
Institutional Trading of HDFC Bank
A number of large investors have recently modified their holdings of HDB. NewEdge Advisors LLC grew its stake in HDFC Bank by 8.6% in the 1st quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after buying an additional 922 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of HDFC Bank by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after acquiring an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of HDFC Bank by 24.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after acquiring an additional 1,541 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of HDFC Bank by 464.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after acquiring an additional 1,221 shares during the last quarter. Finally, First Trust Advisors LP grew its position in HDFC Bank by 29.3% in the second quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock worth $3,952,000 after acquiring an additional 11,689 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.
About HDFC Bank
HDFC Bank Limited is an India-based banking and financial services company headquartered in Mumbai. Established in 1994 and commencing operations in 1995, the bank serves individual consumers, small and midsize businesses, corporations, institutions and government-related organizations.
The bank provides a broad range of services, including savings and current accounts, fixed deposits, personal and home loans, vehicle and business financing, credit and debit cards, payments, remittances, wealth management and insurance distribution.
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