HDFC Bank (NYSE:HDB) Upgraded by StockNews.com to “Hold”

HDFC Bank (NYSE:HDB) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Separately, JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

HDFC Bank Stock Up 1.2 %

NYSE HDB traded up $0.73 during trading hours on Friday, reaching $61.02. 4,121,430 shares of the company’s stock were exchanged, compared to its average volume of 3,132,432. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. HDFC Bank has a one year low of $52.16 and a one year high of $67.44. The company’s 50-day moving average is $61.47 and its two-hundred day moving average is $59.82. The company has a market capitalization of $113.48 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 1.76 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion for the quarter, compared to analyst estimates of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. On average, analysts forecast that HDFC Bank will post 2.97 EPS for the current fiscal year.

Institutional Investors Weigh In On HDFC Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HDB. The Manufacturers Life Insurance Company bought a new position in shares of HDFC Bank in the 4th quarter valued at about $17,389,000. Capital World Investors raised its stake in shares of HDFC Bank by 2.7% during the 4th quarter. Capital World Investors now owns 1,336,554 shares of the bank’s stock worth $89,702,000 after purchasing an additional 35,559 shares in the last quarter. Exencial Wealth Advisors LLC bought a new stake in shares of HDFC Bank during the 4th quarter worth approximately $1,155,000. Envestnet Asset Management Inc. boosted its holdings in shares of HDFC Bank by 4.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 989,942 shares of the bank’s stock valued at $66,435,000 after buying an additional 44,895 shares during the last quarter. Finally, Stamos Capital Partners L.P. bought a new position in shares of HDFC Bank in the fourth quarter valued at $509,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

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.