HDFC Bank (NYSE:HDB) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of HDFC Bank (NYSE:HDB) from a hold rating to a sell rating in a report issued on Saturday.

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

HDFC Bank Stock Performance

Shares of HDB stock opened at $61.81 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. 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 $114.95 billion, a PE ratio of 18.96, a P/E/G ratio of 1.95 and a beta of 0.92. The company has a 50 day moving average price of $61.55 and a 200-day moving average price of $60.11.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.27. The business had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. As a group, equities research analysts expect that HDFC Bank will post 2.96 earnings per share for the current year.

Institutional Investors Weigh In On HDFC Bank

A number of institutional investors have recently added to or reduced their stakes in HDB. Goldman Sachs Group Inc. grew its position 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 valued at $57,378,000 after acquiring an additional 421,740 shares during the period. Wellington Management Group LLP boosted its position in shares of HDFC Bank by 69.9% during the 4th quarter. Wellington Management Group LLP now owns 4,174,807 shares of the bank’s stock worth $280,171,000 after acquiring an additional 1,717,596 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of HDFC Bank by 185.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 62,169 shares of the bank’s stock worth $4,172,000 after purchasing an additional 40,369 shares during the last quarter. Timber Creek Capital Management LLC acquired a new position in shares of HDFC Bank in the 1st quarter valued at $3,144,000. Finally, Park Avenue Securities LLC boosted its stake in HDFC Bank by 6.3% during the 1st quarter. Park Avenue Securities LLC now owns 13,276 shares of the bank’s stock worth $743,000 after purchasing an additional 786 shares during the period. 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.