HDFC Bank (NYSE:HDB) Upgraded 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 note released on Friday morning.

A number of other analysts have also recently commented on HDB. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, HDFC Bank presently has a consensus rating of “Reduce”.

HDFC Bank Stock Down 0.2%

Shares of HDFC Bank stock opened at $32.02 on Friday. HDFC Bank has a twelve month low of $29.04 and a twelve month high of $39.81. The company’s 50 day moving average is $35.16 and its 200 day moving average is $35.97. The company has a market cap of $163.36 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 1.30 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last posted its earnings results on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $16.48 billion during the quarter, compared to the consensus estimate of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. Sell-side analysts expect that HDFC Bank will post 3.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Central Pacific Bank Trust Division increased its holdings in HDFC Bank by 100.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after acquiring an additional 379 shares in the last quarter. Larson Financial Group LLC lifted its holdings in HDFC Bank by 90.4% during the third quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock valued at $29,000 after purchasing an additional 403 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of HDFC Bank by 54.5% in the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after purchasing an additional 322 shares during the period. Accent Capital Management LLC increased its stake in shares of HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after purchasing an additional 459 shares in the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of HDFC Bank by 476.8% during the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after purchasing an additional 739 shares during the period. Institutional investors own 17.61% of the company’s stock.

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).