Wall Street Zen upgraded shares of HDFC Bank (NYSE:HDB – Free Report) from a sell rating to a hold rating in a report released on Saturday,Wall Street Zen reports.
Several other equities research analysts also recently commented on HDB. HSBC downgraded HDFC Bank from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $30.80 to $26.10 in a report on Monday, August 31st. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. The Goldman Sachs Group initiated coverage on shares of HDFC Bank in a research note on Friday, August 21st. They set a “buy” rating on the stock. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, HDFC Bank currently has a consensus rating of “Hold” and a consensus price target of $26.10.
Check Out Our Latest Stock Report on HDFC Bank
HDFC Bank Trading Down 1.8%
Shares of HDB opened at $21.70 on Friday. The company has a market cap of $111.36 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.22 and a beta of 0.61. The business’s fifty day simple moving average is $22.85 and its two-hundred day simple moving average is $26.18. HDFC Bank has a 12 month low of $21.60 and a 12 month high of $37.35.
HDFC Bank (NYSE:HDB – Get Free Report) last posted its quarterly earnings results on Saturday, October 17th. The bank reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $4.95 billion. HDFC Bank had a return on equity of 11.70% and a net margin of 15.84%. As a group, research analysts forecast that HDFC Bank will post 1.65 EPS for the current year.
Hedge Funds Weigh In On HDFC Bank
Institutional investors and hedge funds have recently bought and sold shares of the stock. Axiom Investment Management LLC purchased a new stake in HDFC Bank in the first quarter worth about $32,000. Integrated Wealth Concepts LLC bought a new position in shares of HDFC Bank in the second quarter worth about $66,000. TD Waterhouse Canada Inc. raised its stake in shares of HDFC Bank by 215.5% in the second quarter. TD Waterhouse Canada Inc. now owns 3,868 shares of the bank’s stock worth $99,000 after buying an additional 2,642 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of HDFC Bank during the 1st quarter valued at about $102,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of HDFC Bank by 32.9% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,147 shares of the bank’s stock valued at $228,000 after buying an additional 2,265 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.
HDFC Bank Company Profile
HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, India. Established in 1994, the bank provides services to individuals, businesses, corporations and institutions through a broad network of physical branches, ATMs and digital banking channels.
Its principal offerings include savings and current accounts, deposits, personal and home loans, vehicle and consumer financing, business and commercial lending, credit and debit cards, payments, investment and wealth-management services, and foreign-exchange and treasury products.
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