Wall Street Zen Downgrades HDFC Bank (NYSE:HDB) to Sell

HDFC Bank (NYSE:HDB) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

HDB has been the topic of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, HDFC Bank has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Up 0.5%

HDB stock opened at $36.82 on Friday. The company’s 50-day moving average price is $35.82 and its two-hundred day moving average price is $36.75. The firm has a market cap of $187.84 billion, a P/E ratio of 22.38, a P/E/G ratio of 1.92 and a beta of 0.69. HDFC Bank has a 12 month low of $28.89 and a 12 month high of $39.81.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.08. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. Equities analysts predict that HDFC Bank will post 3.03 EPS for the current year.

Institutional Trading of HDFC Bank

Several hedge funds have recently bought and sold shares of the business. Financial Perspectives Inc grew its holdings in shares of HDFC Bank by 1.3% during the second quarter. Financial Perspectives Inc now owns 10,769 shares of the bank’s stock valued at $826,000 after buying an additional 136 shares during the last quarter. Insigneo Advisory Services LLC boosted its stake in HDFC Bank by 4.9% during the 2nd quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock valued at $249,000 after purchasing an additional 152 shares during the last quarter. Huntington National Bank boosted its stake in HDFC Bank by 13.3% during the 2nd quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock valued at $103,000 after purchasing an additional 158 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of HDFC Bank by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock worth $1,127,000 after purchasing an additional 194 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its stake in shares of HDFC Bank by 1.5% in the second quarter. Rehmann Capital Advisory Group now owns 15,022 shares of the bank’s stock worth $1,152,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

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.