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

HDFC Bank Limited (NYSE:HDB)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $66.44, but opened at $64.74. HDFC Bank shares last traded at $64.86, with a volume of 777,611 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HDB shares. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd.

HDFC Bank Stock Performance

The firm’s 50 day simple moving average is $61.41 and its 200 day simple moving average is $62.74. The firm has a market capitalization of $167.49 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.12 and a beta of 0.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Sell-side analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Institutional Trading of HDFC Bank

Several hedge funds and other institutional investors have recently bought and sold shares of HDB. Fairtree Asset Management Pty Ltd purchased a new stake in HDFC Bank in the 4th quarter worth approximately $153,000. Wealth Enhancement Advisory Services LLC boosted its holdings in HDFC Bank by 37.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,205 shares of the bank’s stock worth $396,000 after buying an additional 1,691 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in HDFC Bank during the fourth quarter valued at $2,046,000. Public Employees Retirement System of Ohio increased its holdings in HDFC Bank by 112.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 713,228 shares of the bank’s stock valued at $45,547,000 after buying an additional 377,141 shares in the last quarter. Finally, BIP Alliance LLC acquired a new position in shares of HDFC Bank in the fourth quarter worth about $220,000. 17.61% of the stock is owned by institutional investors and hedge funds.

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.