HDFC Bank (NYSE:HDB) Posts Quarterly Earnings Results

HDFC Bank (NYSE:HDB) posted its earnings results on Tuesday. The bank reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04, Zacks reports. The business had revenue of $16.48 billion during the quarter, compared to the consensus estimate of $5.12 billion. HDFC Bank had a return on equity of 11.06% and a net margin of 14.92%.

HDFC Bank Stock Performance

HDB stock opened at $32.35 on Wednesday. The stock has a market capitalization of $165.03 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.32 and a beta of 0.57. The company has a fifty day moving average of $35.42 and a 200-day moving average of $36.10. HDFC Bank has a one year low of $29.04 and a one year high of $39.81.

Hedge Funds Weigh In On HDFC Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of HDFC Bank by 94.3% in the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock valued at $449,381,000 after buying an additional 6,386,002 shares in the last quarter. Invesco Ltd. boosted its position in shares of HDFC Bank by 98.3% during the 3rd quarter. Invesco Ltd. now owns 12,338,006 shares of the bank’s stock worth $421,466,000 after purchasing an additional 6,115,797 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of HDFC Bank by 107.8% during the 3rd quarter. Lazard Asset Management LLC now owns 11,476,763 shares of the bank’s stock worth $392,046,000 after purchasing an additional 5,952,801 shares during the period. Sustainable Growth Advisers LP increased its holdings in shares of HDFC Bank by 48.2% in the 3rd quarter. Sustainable Growth Advisers LP now owns 10,914,957 shares of the bank’s stock valued at $372,855,000 after purchasing an additional 3,548,274 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of HDFC Bank by 9,866.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock valued at $271,381,000 after purchasing an additional 7,864,692 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HDB shares. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

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).