HDFC Bank (NYSE:HDB) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of HDFC Bank (NYSE:HDB) from a sell rating to a hold rating in a research note released on Friday morning.

Separately, JPMorgan Chase & Co. downgraded shares of HDFC Bank from an overweight rating to a neutral rating in a report on Monday, July 22nd.

HDFC Bank Price Performance

HDB stock traded up $0.72 during trading on Friday, hitting $61.01. The stock had a trading volume of 4,121,456 shares, compared to its average volume of 3,132,432. The company’s 50-day moving average price is $61.47 and its two-hundred day moving average price is $59.82. HDFC Bank has a twelve month low of $52.16 and a twelve month high of $67.44. The stock has a market capitalization of $113.47 billion, a P/E ratio of 18.72, a PEG ratio of 1.76 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, beating the consensus estimate of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The firm had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. As a group, research analysts predict that HDFC Bank will post 2.97 EPS for the current fiscal year.

Institutional Trading of HDFC Bank

Hedge funds and other institutional investors have recently modified their holdings of the stock. Breakout Capital Partners LP purchased a new position in HDFC Bank during the fourth quarter worth about $18,894,000. Manning & Napier Advisors LLC acquired a new stake in HDFC Bank during the second quarter worth $166,709,000. Sei Investments Co. raised its position in HDFC Bank by 0.8% in the fourth quarter. Sei Investments Co. now owns 1,661,176 shares of the bank’s stock valued at $111,481,000 after purchasing an additional 13,610 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of HDFC Bank by 97.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 854,985 shares of the bank’s stock worth $57,378,000 after purchasing an additional 421,740 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of HDFC Bank by 580.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 805,060 shares of the bank’s stock worth $45,079,000 after purchasing an additional 686,789 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

About HDFC Bank

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.