HDFC Bank (NYSE:HDB) Reaches New 12-Month High – Should You Buy?

Shares of HDFC Bank Limited (NYSE:HDB) reached a new 52-week high on Wednesday . The stock traded as high as $67.48 and last traded at $67.41, with a volume of 796931 shares traded. The stock had previously closed at $66.65.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, November 8th.

HDFC Bank Trading Up 1.2 %

The firm has a market capitalization of $170.83 billion, a P/E ratio of 20.26, a PEG ratio of 1.78 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. The firm has a 50 day moving average of $63.18 and a 200-day moving average of $61.37.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results 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. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The business had revenue of $9.21 billion for the quarter, compared to analyst estimates of $4.84 billion. On average, equities research analysts predict that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in HDFC Bank by 10.9% during the first quarter. Vanguard Group Inc. now owns 122,023 shares of the bank’s stock worth $6,830,000 after buying an additional 12,037 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of HDFC Bank by 10.8% during the first quarter. Toronto Dominion Bank now owns 3,328 shares of the bank’s stock valued at $186,000 after purchasing an additional 325 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in HDFC Bank in the 1st quarter valued at about $222,000. Hancock Whitney Corp bought a new position in shares of HDFC Bank during the 1st quarter worth approximately $289,000. Finally, LBP AM SA grew its holdings in shares of HDFC Bank by 10.5% in the first quarter. LBP AM SA now owns 71,689 shares of the bank’s stock valued at $4,012,000 after acquiring an additional 6,800 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

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.