HDFC Bank (NYSE:HDB) Hits New 12-Month High – Should You Buy?

HDFC Bank Limited (NYSE:HDB) reached a new 52-week high during trading on Wednesday . The company traded as high as $67.48 and last traded at $67.41, with a volume of 796931 shares traded. The stock had previously closed at $66.65.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday.

HDFC Bank Trading Up 1.3 %

The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $63.32 and its 200-day moving average is $61.45. The firm has a market cap of $170.93 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. As a group, analysts forecast that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.

Institutional Trading of HDFC Bank

Several institutional investors have recently added to or reduced their stakes in HDB. Vanguard Group Inc. increased its stake in HDFC Bank by 10.9% during the first quarter. Vanguard Group Inc. now owns 122,023 shares of the bank’s stock valued at $6,830,000 after purchasing an additional 12,037 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in HDFC Bank during the first quarter valued at $222,000. Hancock Whitney Corp bought a new stake in HDFC Bank during the first quarter valued at $289,000. Virtu Financial LLC bought a new stake in HDFC Bank during the first quarter valued at $423,000. Finally, LRI Investments LLC bought a new stake in HDFC Bank during the first quarter valued at $56,000. 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.