HDFC Bank (NYSE:HDB) Upgraded at Zacks Research

Zacks Research upgraded shares of HDFC Bank (NYSE:HDB) from a strong sell rating to a hold rating in a research report released on Monday,Zacks.com reports.

Separately, Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

HDFC Bank Stock Down 1.0%

Shares of NYSE:HDB opened at $33.83 on Monday. The firm has a market cap of $172.60 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.76 and a beta of 0.63. HDFC Bank has a 12-month low of $28.89 and a 12-month high of $39.81. The business has a fifty day simple moving average of $36.33 and a 200 day simple moving average of $36.17.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, July 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, equities research analysts expect that HDFC Bank will post 3.03 EPS for the current year.

HDFC Bank Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.0854 per share. This represents a dividend yield of 101.0%. The ex-dividend date was Thursday, July 31st. HDFC Bank’s dividend payout ratio is presently 19.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Roxbury Financial LLC grew its holdings in HDFC Bank by 194.9% in the third quarter. Roxbury Financial LLC now owns 1,162 shares of the bank’s stock worth $40,000 after purchasing an additional 768 shares during the period. Osaic Holdings Inc. grew its stake in shares of HDFC Bank by 49.4% in the 2nd quarter. Osaic Holdings Inc. now owns 12,513 shares of the bank’s stock valued at $938,000 after buying an additional 4,135 shares during the period. Orion Porfolio Solutions LLC increased its position in HDFC Bank by 14.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 146,477 shares of the bank’s stock valued at $11,230,000 after buying an additional 18,294 shares in the last quarter. State of Wyoming raised its stake in HDFC Bank by 20.4% during the 2nd quarter. State of Wyoming now owns 12,796 shares of the bank’s stock worth $981,000 after buying an additional 2,172 shares during the period. Finally, MayTech Global Investments LLC boosted its holdings in HDFC Bank by 4.0% in the second quarter. MayTech Global Investments LLC now owns 188,950 shares of the bank’s stock worth $14,490,000 after acquiring an additional 7,206 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

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.