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

HDFC Bank Limited (NYSE:HDB) shares reached a new 52-week low during trading on Thursday . The company traded as low as $22.66 and last traded at $22.8850, with a volume of 617029 shares trading hands. The stock had previously closed at $23.18.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Finally, Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

HDFC Bank Trading Down 0.6%

The stock has a market capitalization of $117.51 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 1.12 and a beta of 0.64. The stock’s fifty day moving average price is $24.89 and its two-hundred day moving average price is $27.83.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $9.01 billion for the quarter, compared to analyst estimates of $5 billion. HDFC Bank had a net margin of 15.96% and a return on equity of 13.14%. As a group, analysts expect that HDFC Bank Limited will post 1.67 earnings per share for the current fiscal year.

Insider Activity

In related news, insider N Srinivasan sold 10,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the sale, the insider directly owned 638,422 shares in the company, valued at $5,567,039.84. This represents a 1.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ashish Parthasarthy sold 5,600 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the transaction, the insider owned 842,958 shares in the company, valued at approximately $7,333,734.60. The trade was a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.

Institutional Trading of HDFC Bank

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC increased its stake in shares of HDFC Bank by 90.4% in the third quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after buying an additional 403 shares during the period. Axiom Investment Management LLC purchased a new stake in HDFC Bank during the 1st quarter valued at $32,000. Bell Investment Advisors Inc grew its holdings in HDFC Bank by 260.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock worth $34,000 after acquiring an additional 1,002 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its holdings in HDFC Bank by 100.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after acquiring an additional 498 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of HDFC Bank in the third quarter valued at about $43,000. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Company Profile

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).