HDFC Bank (NYSE:HDB) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

HDFC Bank Limited (NYSE:HDB) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $62.81 and traded as high as $64.15. HDFC Bank shares last traded at $64.14, with a volume of 1,523,161 shares trading hands.

Wall Street Analyst Weigh In

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

HDFC Bank Price Performance

The firm has a 50 day moving average price of $64.91 and a two-hundred day moving average price of $62.83. The company has a market cap of $161.71 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.79 and a beta of 0.92. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The company had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. On average, analysts predict that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On HDFC Bank

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in HDFC Bank by 2,092.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,418,328 shares of the bank’s stock worth $213,851,000 after acquiring an additional 3,262,442 shares during the last quarter. TPG GP A LLC bought a new position in shares of HDFC Bank in the second quarter worth approximately $95,637,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in HDFC Bank by 130.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,185,500 shares of the bank’s stock valued at $140,593,000 after purchasing an additional 1,236,100 shares in the last quarter. FMR LLC grew its stake in HDFC Bank by 19.3% in the 3rd quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock worth $430,339,000 after buying an additional 1,114,210 shares in the last quarter. Finally, Eminence Capital LP bought a new position in shares of HDFC Bank in the 2nd quarter worth $68,340,000. 17.61% of the stock is currently owned by 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.