HDFC Bank (NYSE:HDB) Raised to Hold at Wall Street Zen

HDFC Bank (NYSE:HDB) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce”.

HDFC Bank Stock Down 0.2%

Shares of HDFC Bank stock opened at $32.02 on Friday. HDFC Bank has a 12-month low of $29.04 and a 12-month high of $39.81. The stock has a market capitalization of $163.36 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.29 and a beta of 0.57. The company has a 50-day simple moving average of $35.16 and a 200 day simple moving average of $35.99.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The firm had revenue of $16.48 billion for the quarter, compared to analysts’ expectations of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. On average, equities analysts anticipate that HDFC Bank will post 3.03 earnings per share for the current year.

Hedge Funds Weigh In On HDFC Bank

Several institutional investors and hedge funds have recently modified their holdings of HDB. Farther Finance Advisors LLC boosted its holdings in shares of HDFC Bank by 58.1% during the fourth quarter. Farther Finance Advisors LLC now owns 14,278 shares of the bank’s stock worth $522,000 after acquiring an additional 5,249 shares during the period. Natural Investments LLC increased its stake in shares of HDFC Bank by 5.9% during the fourth quarter. Natural Investments LLC now owns 41,237 shares of the bank’s stock worth $1,506,000 after purchasing an additional 2,299 shares during the period. Assetmark Inc. boosted its stake in HDFC Bank by 52.0% in the 4th quarter. Assetmark Inc. now owns 6,268 shares of the bank’s stock valued at $229,000 after purchasing an additional 2,144 shares during the period. Hardman Johnston Global Advisors LLC boosted its stake in HDFC Bank by 3.7% in the 4th quarter. Hardman Johnston Global Advisors LLC now owns 4,428,563 shares of the bank’s stock valued at $161,820,000 after purchasing an additional 158,881 shares during the period. Finally, Altfest L J & Co. Inc. grew its holdings in HDFC Bank by 253.7% in the 4th quarter. Altfest L J & Co. Inc. now owns 24,600 shares of the bank’s stock valued at $899,000 after buying an additional 17,644 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).