HDFC Bank (NYSE:HDB) Rating Increased to Hold at StockNews.com

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

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

HDFC Bank Stock Performance

Shares of HDB opened at $64.52 on Friday. The business’s 50 day moving average is $62.73 and its two-hundred day moving average is $60.86. HDFC Bank has a 52-week low of $52.16 and a 52-week high of $67.44. The firm has a market cap of $163.38 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.68 and a beta of 0.91. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34.

Institutional Investors Weigh In On HDFC Bank

Institutional investors and hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in shares of HDFC Bank during the 2nd quarter valued at approximately $36,000. Northwest Investment Counselors LLC acquired a new stake in shares of HDFC Bank during the 3rd quarter valued at approximately $38,000. JFS Wealth Advisors LLC raised its position in shares of HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after acquiring an additional 275 shares in the last quarter. GAMMA Investing LLC raised its position in shares of HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after acquiring an additional 324 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of HDFC Bank during the 1st quarter valued at approximately $56,000. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Company Profile

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.