Zacks Reiterates Neutral Rating for HDFC Bank (HDB)
HDFC Bank (NYSE:HDB)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Monday. They currently have a $49.00 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 5.56% from the company’s current price.
Zacks’ analyst wrote, “HDFC Bank reported robust fourth-quarter (ended Mar 31) fiscal 2014 results. An increase in net interest income and fee revenues was partially offset by higher operating expenses. Moreover, deposit and loan balances as well as credit quality continued to show improvement. Although we expect negative impact from the new capital rules and deterioration in asset quality, it is likely to be offset by continued synergies from the company’s exposure to the fast-growing Indian retail credit sector. Additionally, consistent branch expansion will lead to growth in deposits and loans in the long term.”
Shares of HDFC Bank (NYSE:HDB) traded up 0.75% on Monday, hitting $46.77. The stock had a trading volume of 221,353 shares. HDFC Bank has a one year low of $26.62 and a one year high of $48.75. The stock’s 50-day moving average is $46.35 and its 200-day moving average is $38.84. The company has a market cap of $224.4 billion and a price-to-earnings ratio of 154.22.
HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.04. Analysts expect that HDFC Bank will post $1.47 EPS for the current fiscal year.
HDFC Bank Limited (NYSE:HDB) is an India-based banking company.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.