HDFC Bank Limited (NYSE:HDB) Sees Large Growth in Short Interest

HDFC Bank Limited (NYSE:HDB) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 4,340,000 shares, an increase of 32.7% from the August 15th total of 3,270,000 shares. Based on an average trading volume of 1,310,000 shares, the short-interest ratio is presently 3.3 days.

Separately, Zacks Investment Research upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Monday, August 30th.

A number of large investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in HDFC Bank in the 2nd quarter worth approximately $1,283,000. Bank of America Corp DE lifted its holdings in shares of HDFC Bank by 5.4% in the second quarter. Bank of America Corp DE now owns 3,719,005 shares of the bank’s stock worth $271,933,000 after buying an additional 190,748 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG boosted its position in shares of HDFC Bank by 17.6% during the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 59,027 shares of the bank’s stock worth $4,316,000 after acquiring an additional 8,839 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in HDFC Bank during the second quarter valued at $444,000. Finally, Marshall Wace LLP increased its holdings in HDFC Bank by 31.4% in the 2nd quarter. Marshall Wace LLP now owns 31,833 shares of the bank’s stock valued at $2,328,000 after acquiring an additional 7,615 shares during the last quarter. 17.54% of the stock is currently owned by institutional investors and hedge funds.

NYSE HDB opened at $72.55 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.79. HDFC Bank has a 12 month low of $46.62 and a 12 month high of $84.70. The stock has a market cap of $133.32 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 1.28 and a beta of 0.77. The company’s 50 day moving average is $74.45 and its two-hundred day moving average is $74.60.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Sunday, July 18th. The bank reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. HDFC Bank had a net margin of 20.64% and a return on equity of 15.71%. The firm had revenue of $3.35 billion during the quarter. Sell-side analysts forecast that HDFC Bank will post 2.72 EPS for the current year.

About HDFC Bank

HDFC Bank Ltd. engages in the provision of banking and financial services, including commercial banking and treasury operations. The firm also provides financial services to upper and middle income individuals and corporations in India. It operates through the following segments: Treasury, Retail Banking, Wholesale Banking and Other Banking Operations.

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