HDFC Bank (NYSE:HDB) Trading Up 4.6% – Here’s Why

HDFC Bank Limited (NYSE:HDB)’s share price was up 4.6% during mid-day trading on Monday . The stock traded as high as $64.11 and last traded at $63.66. Approximately 533,112 shares changed hands during trading, a decline of 83% from the average daily volume of 3,071,272 shares. The stock had previously closed at $60.87.

Analyst Upgrades and Downgrades

HDB has been the subject of a number of research reports. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd.

HDFC Bank Price Performance

The stock has a market capitalization of $117.43 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a 50-day moving average price of $61.83 and a 200 day moving average price of $60.31.

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

Hedge Funds Weigh In On HDFC Bank

Institutional investors and hedge funds have recently made changes to their positions in the business. Manning & Napier Advisors LLC bought a new position in shares of HDFC Bank during the second quarter valued at about $166,709,000. Mitsubishi UFJ Trust & Banking Corp grew its position in 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 acquiring an additional 686,789 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in HDFC Bank by 56.3% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock worth $8,981,000 after purchasing an additional 50,301 shares during the period. Norden Group LLC bought a new stake in HDFC Bank in the first quarter valued at approximately $511,000. Finally, LRI Investments LLC purchased a new stake in shares of HDFC Bank during the first quarter valued at approximately $125,000. 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.