HDFC Bank Limited (NYSE:HDB – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $21.66 and last traded at $21.6450, with a volume of 2,455,197 shares traded. The stock had previously closed at $22.09.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on HDB shares. HSBC downgraded shares of HDFC Bank from a “buy” rating to a “hold” rating and lowered their target price for the company from $30.80 to $26.10 in a research note on Monday, August 31st. Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. The Goldman Sachs Group began coverage on HDFC Bank in a research note on Friday, August 21st. They set a “buy” rating on the stock. Finally, Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.10.
Check Out Our Latest Analysis on HDFC Bank
HDFC Bank Price Performance
The stock’s fifty day simple moving average is $22.85 and its 200-day simple moving average is $24.18. The stock has a market cap of $110.91 billion, a P/E ratio of 12.36, a PEG ratio of 1.22 and a beta of 0.61.
HDFC Bank (NYSE:HDB – Get Free Report) last announced its quarterly earnings data on Saturday, October 17th. The bank reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. HDFC Bank had a return on equity of 11.70% and a net margin of 15.84%. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $4.95 billion. Analysts forecast that HDFC Bank Limited will post 1.65 EPS for the current year.
Institutional Investors Weigh In On HDFC Bank
Hedge funds and other institutional investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. grew its stake in HDFC Bank by 34.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 175,050 shares of the bank’s stock valued at $3,911,000 after buying an additional 44,802 shares during the last quarter. Canoe Financial LP raised its holdings in HDFC Bank by 2.8% in the 3rd quarter. Canoe Financial LP now owns 255,680 shares of the bank’s stock valued at $5,868,000 after buying an additional 7,000 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of HDFC Bank by 13.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 16,611,473 shares of the bank’s stock valued at $371,100,000 after buying an additional 1,918,221 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position in HDFC Bank by 1.7% during the third quarter. Prime Capital Investment Advisors LLC now owns 38,747 shares of the bank’s stock valued at $866,000 after acquiring an additional 630 shares during the last quarter. Finally, Value Partners Investments Inc. boosted its holdings in HDFC Bank by 85.3% in the third quarter. Value Partners Investments Inc. now owns 543,129 shares of the bank’s stock worth $12,142,000 after acquiring an additional 250,000 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.
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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