HDFC Bank (NYSE:HDB) Raised to Buy at Nomura

HDFC Bank (NYSE:HDB) was upgraded by research analysts at Nomura from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

Separately, StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

HDFC Bank Stock Down 0.8 %

HDB opened at $58.47 on Thursday. HDFC Bank has a 1-year low of $52.16 and a 1-year high of $68.50. The business has a 50 day moving average of $63.76 and a 200-day moving average of $62.39. The stock has a market capitalization of $148.05 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.73 and a beta of 0.92. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 11.78%. As a group, sell-side analysts anticipate that HDFC Bank will post 3.13 earnings per share for the current year.

Institutional Investors Weigh In On HDFC Bank

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. boosted its position in shares of HDFC Bank by 104.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after acquiring an additional 254 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in HDFC Bank during the third quarter valued at approximately $38,000. JFS Wealth Advisors LLC grew its stake in shares of HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after purchasing an additional 275 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of HDFC Bank in the 3rd quarter valued at approximately $65,000. Finally, GAMMA Investing LLC lifted its position in shares of HDFC Bank by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock worth $76,000 after buying an additional 312 shares during the period. Institutional investors 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.