HDFC Bank (NYSE:HDB) Upgraded at StockNews.com

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

Separately, JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

HDFC Bank Trading Up 0.5 %

Shares of HDB stock opened at $64.09 on Friday. The stock has a fifty day simple moving average of $62.73 and a two-hundred day simple moving average of $60.84. HDFC Bank has a 52-week low of $52.16 and a 52-week high of $67.44. The firm has a market capitalization of $162.30 billion, a PE ratio of 19.48, a PEG ratio of 1.68 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HDB. Daiwa Securities Group Inc. boosted its stake in HDFC Bank by 76.0% during the first quarter. Daiwa Securities Group Inc. now owns 3,563 shares of the bank’s stock valued at $199,000 after buying an additional 1,538 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of HDFC Bank by 29.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 28,903 shares of the bank’s stock valued at $1,618,000 after acquiring an additional 6,499 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of HDFC Bank by 1,166.5% in the first quarter. Headlands Technologies LLC now owns 32,675 shares of the bank’s stock valued at $1,829,000 after purchasing an additional 30,095 shares in the last quarter. Sustainable Growth Advisers LP increased its position in HDFC Bank by 24.1% in the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock worth $493,884,000 after purchasing an additional 1,711,784 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in HDFC Bank by 2.7% during the first quarter. QRG Capital Management Inc. now owns 27,094 shares of the bank’s stock valued at $1,516,000 after purchasing an additional 706 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

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.