HDFC Bank (NYSE:HDB) Raised to “Buy” at Nomura

Nomura upgraded shares of HDFC Bank (NYSE:HDB) from a neutral rating to a buy rating in a report released on Thursday, Marketbeat.com reports.

Separately, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

HDFC Bank Stock Down 2.9 %

HDB stock opened at $58.95 on Thursday. The stock has a market capitalization of $149.27 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.67 and a beta of 0.92. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. HDFC Bank has a 1-year low of $52.16 and a 1-year high of $68.50. The business has a fifty day moving average price of $63.82 and a 200-day moving average price of $62.42.

HDFC Bank (NYSE:HDB) last posted its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. Equities analysts forecast that HDFC Bank will post 3.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. lifted its stake in shares of HDFC Bank by 104.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after purchasing an additional 254 shares during the period. Northwest Investment Counselors LLC bought a new position in HDFC Bank in the third quarter worth approximately $38,000. JFS Wealth Advisors LLC raised its position in HDFC Bank by 70.2% in the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after acquiring an additional 275 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of HDFC Bank during the 3rd quarter worth $65,000. Finally, GAMMA Investing LLC grew its position in shares of HDFC Bank by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock valued at $76,000 after acquiring an additional 312 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

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.