HDFC Bank (NYSE:HDB) Raised to “Hold” at Zacks Research

HDFC Bank (NYSE:HDB) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Separately, Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, HDFC Bank presently has an average rating of “Buy”.

HDFC Bank Stock Performance

Shares of HDB opened at $34.09 on Monday. The firm has a market cap of $173.91 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.76 and a beta of 0.63. HDFC Bank has a fifty-two week low of $28.89 and a fifty-two week high of $39.81. The firm has a 50 day moving average price of $36.45 and a 200-day moving average price of $36.19.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%.The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. As a group, equities research analysts predict that HDFC Bank will post 3.03 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in HDFC Bank by 81.0% in the 1st quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank’s stock worth $37,765,000 after purchasing an additional 254,395 shares in the last quarter. Acadian Asset Management LLC bought a new position in HDFC Bank in the 1st quarter worth $19,366,000. Immersion Capital LLP bought a new position in HDFC Bank in the 1st quarter worth $19,753,000. Raiffeisen Bank International AG raised its holdings in HDFC Bank by 21.3% in the 1st quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank’s stock worth $12,778,000 after purchasing an additional 33,983 shares in the last quarter. Finally, Eminence Capital LP raised its holdings in HDFC Bank by 18.9% in the 1st quarter. Eminence Capital LP now owns 1,186,551 shares of the bank’s stock worth $78,834,000 after purchasing an additional 189,015 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Company Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.