HDFC Bank Limited (NYSE:HDB) Sees Significant Increase in Short Interest

HDFC Bank Limited (NYSE:HDB) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 19,210,000 shares, a growth of 28.1% from the February 13th total of 15,000,000 shares. Based on an average daily trading volume, of 2,570,000 shares, the short-interest ratio is presently 7.5 days. Approximately 0.8% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HDB. Principal Financial Group Inc. lifted its position in HDFC Bank by 31.5% during the 3rd quarter. Principal Financial Group Inc. now owns 47,225 shares of the bank’s stock valued at $2,954,000 after acquiring an additional 11,319 shares during the period. OneDigital Investment Advisors LLC increased its stake in HDFC Bank by 32.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 13,793 shares of the bank’s stock valued at $863,000 after purchasing an additional 3,353 shares in the last quarter. CIBC Asset Management Inc increased its stake in HDFC Bank by 3.8% during the 3rd quarter. CIBC Asset Management Inc now owns 177,879 shares of the bank’s stock valued at $11,128,000 after purchasing an additional 6,473 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in HDFC Bank by 105.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 6,503 shares of the bank’s stock valued at $407,000 after purchasing an additional 3,333 shares in the last quarter. Finally, Baron Wealth Management LLC increased its stake in HDFC Bank by 63.0% during the 3rd quarter. Baron Wealth Management LLC now owns 7,097 shares of the bank’s stock valued at $444,000 after purchasing an additional 2,743 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Trading Up 1.2 %

Shares of NYSE:HDB traded up $0.74 on Tuesday, hitting $62.36. The company had a trading volume of 2,874,943 shares, compared to its average volume of 2,559,403. HDFC Bank has a 1 year low of $54.07 and a 1 year high of $68.50. The firm has a market capitalization of $157.91 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 2.12 and a beta of 0.92. The firm’s 50-day simple moving average is $60.00 and its two-hundred day simple moving average is $62.43. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HDB shares. Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Finally, Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

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.