StockNews.com Lowers HDFC Bank (NYSE:HDB) to Sell

StockNews.com downgraded shares of HDFC Bank (NYSE:HDB) from a hold rating to a sell rating in a research report report published on Saturday.

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

HDFC Bank Stock Up 2.1 %

Shares of HDB opened at $61.81 on Friday. The firm’s 50-day simple moving average is $61.55 and its 200 day simple moving average is $60.11. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $114.95 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. HDFC Bank has a 52 week low of $52.16 and a 52 week high of $67.44.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, beating the consensus estimate of $0.51 by $0.27. The business had revenue of $14.03 billion for the quarter, compared to the consensus estimate 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 2.96 earnings per share for the current year.

Institutional Trading of HDFC Bank

Hedge funds have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new stake in HDFC Bank in the first quarter valued at $34,000. Janiczek Wealth Management LLC bought a new stake in HDFC Bank in the first quarter worth approximately $35,000. Ridgewood Investments LLC bought a new position in shares of HDFC Bank during the 2nd quarter worth approximately $36,000. LRI Investments LLC acquired a new stake in shares of HDFC Bank during the 1st quarter worth approximately $56,000. Finally, GAMMA Investing LLC grew its holdings in HDFC Bank by 56.0% in the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after purchasing an additional 324 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.