HDFC Bank Limited (NYSE:HDB) Sees Significant Increase in Short Interest

HDFC Bank Limited (NYSE:HDB) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 17,500,000 shares, an increase of 7.9% from the August 31st total of 16,220,000 shares. Based on an average daily trading volume, of 2,830,000 shares, the short-interest ratio is currently 6.2 days.

Institutional Investors Weigh In On HDFC Bank

A number of institutional investors have recently made changes to their positions in the company. Royal London Asset Management Ltd. grew its position in shares of HDFC Bank by 234.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank’s stock valued at $448,970,000 after buying an additional 4,687,487 shares during the last quarter. Capital World Investors raised its position in shares of HDFC Bank by 208.6% during the 1st quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock worth $230,862,000 after purchasing an additional 2,788,197 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of HDFC Bank during the 2nd quarter worth approximately $166,709,000. PineStone Asset Management Inc. lifted its holdings in shares of HDFC Bank by 115.1% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after purchasing an additional 2,391,343 shares during the last quarter. Finally, Harding Loevner LP boosted its position in HDFC Bank by 31.7% during the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after purchasing an additional 2,276,203 shares during the period. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

Shares of HDB stock opened at $62.40 on Wednesday. The firm has a fifty day moving average of $61.41 and a two-hundred day moving average of $59.77. The firm has a market cap of $116.06 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.76 and a beta of 0.92. HDFC Bank has a 1-year low of $52.16 and a 1-year high of $67.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The business had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. As a group, research analysts anticipate that HDFC Bank will post 2.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HDB. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd.

About HDFC Bank

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.