HDFC Bank (NYSE:HDB) Shares Gap Down – Should You Sell?

HDFC Bank Limited (NYSE:HDB) gapped down prior to trading on Friday . The stock had previously closed at $64.06, but opened at $62.66. HDFC Bank shares last traded at $62.37, with a volume of 242,203 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

HDFC Bank Price Performance

The stock has a market capitalization of $158.37 billion, a PE ratio of 19.01, a P/E/G ratio of 1.78 and a beta of 0.92. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The company’s fifty day simple moving average is $64.88 and its two-hundred day simple moving average is $62.86.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.09. The firm had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. As a group, sell-side analysts predict that HDFC Bank Limited will post 3.15 EPS for the current year.

Institutional Trading of HDFC Bank

Large investors have recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. lifted its holdings in HDFC Bank by 104.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after purchasing an additional 254 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of HDFC Bank during the third quarter valued at approximately $38,000. JFS Wealth Advisors LLC lifted its stake in shares of HDFC Bank by 70.2% during the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after buying an additional 275 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in HDFC Bank during the third quarter worth approximately $65,000. Finally, GAMMA Investing LLC grew its stake in HDFC Bank by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock worth $76,000 after acquiring an additional 312 shares during the period. Institutional investors and hedge funds 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.