HDFC Bank (NYSE:HDB) Shares Gap Up to $64.10

Shares of HDFC Bank Limited (NYSE:HDB) gapped up before the market opened on Tuesday . The stock had previously closed at $64.10, but opened at $65.61. HDFC Bank shares last traded at $66.08, with a volume of 891,731 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.

HDFC Bank Price Performance

The stock has a market cap of $123.96 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.20 and a beta of 0.92. The company has a 50-day moving average of $59.16 and a 200-day moving average of $58.51. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, April 20th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.13. The firm had revenue of $9.72 billion for the quarter. HDFC Bank had a return on equity of 15.45% and a net margin of 15.71%. As a group, equities research analysts predict that HDFC Bank Limited will post 3.1 earnings per share for the current year.

HDFC Bank Increases Dividend

The firm also recently announced an annual dividend, which was paid on Wednesday, May 8th. Shareholders of record on Thursday, May 9th were given a dividend of $0.7008 per share. This is a boost from HDFC Bank’s previous annual dividend of $0.59. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a yield of 1%. HDFC Bank’s payout ratio is presently 18.10%.

Hedge Funds Weigh In On HDFC Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frazier Financial Advisors LLC acquired a new position in HDFC Bank during the 4th quarter worth approximately $29,000. GAMMA Investing LLC acquired a new position in HDFC Bank during the 4th quarter worth approximately $33,000. Northwest Investment Counselors LLC acquired a new position in HDFC Bank during the 1st quarter worth approximately $34,000. Janiczek Wealth Management LLC acquired a new position in HDFC Bank during the 1st quarter worth approximately $35,000. Finally, Parkside Financial Bank & Trust increased its position in HDFC Bank by 89.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock worth $41,000 after purchasing an additional 291 shares during the period. 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.