HDFC Bank (NYSE:HDB) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of HDFC Bank (NYSE:HDB) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

HDB has been the topic of a number of other reports. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, HDFC Bank currently has an average rating of “Reduce”.

HDFC Bank Price Performance

HDFC Bank stock opened at $32.02 on Friday. The business has a 50 day simple moving average of $35.16 and a 200-day simple moving average of $36.00. HDFC Bank has a 12 month low of $29.04 and a 12 month high of $39.81. The stock has a market capitalization of $163.36 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 1.29 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. As a group, equities research analysts anticipate that HDFC Bank will post 3.03 EPS for the current year.

Hedge Funds Weigh In On HDFC Bank

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

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).