Stock analysts at The Goldman Sachs Group began coverage on shares of HDFC Bank (NYSE:HDB – Get Free Report) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set a “buy” rating on the bank’s stock.
A number of other equities research analysts have also recently commented on the company. Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, HDFC Bank currently has an average rating of “Hold”.
Read Our Latest Stock Analysis on HDFC Bank
HDFC Bank Price Performance
HDFC Bank (NYSE:HDB – Get Free Report) last issued its earnings results on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $9.01 billion during the quarter, compared to analysts’ expectations of $5 billion. HDFC Bank had a net margin of 15.96% and a return on equity of 11.84%. On average, sell-side analysts predict that HDFC Bank will post 1.67 EPS for the current year.
Institutional Trading of HDFC Bank
A number of large investors have recently bought and sold shares of HDB. Larson Financial Group LLC increased its holdings in HDFC Bank by 90.4% during the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after purchasing an additional 403 shares in the last quarter. Axiom Investment Management LLC bought a new position in shares of HDFC Bank during the first quarter worth about $32,000. Bell Investment Advisors Inc raised its position in HDFC Bank by 260.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock valued at $34,000 after buying an additional 1,002 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in HDFC Bank by 100.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after acquiring an additional 498 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in HDFC Bank during the 3rd quarter worth approximately $43,000. 17.61% of the stock is owned by institutional investors.
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).
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