HDFC Bank (NYSE:HDB) Upgraded at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of HDFC Bank (NYSE:HDB – Free Report) from a sell rating to a hold rating in a report published on Friday morning.

Separately, JPMorgan Chase & Co. lowered shares of HDFC Bank from an overweight rating to a neutral rating in a report on Monday, July 22nd.

Get Our Latest Stock Report on HDB

HDFC Bank Stock Up 1.2 %

HDB stock opened at $61.01 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average of $61.47 and a two-hundred day moving average of $59.88. The company has a market cap of $113.47 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.76 and a beta of 0.92. HDFC Bank has a 12 month low of $52.16 and a 12 month high of $67.44.

HDFC Bank (NYSE:HDB – Get Free Report) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.27. The firm had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. As a group, analysts forecast that HDFC Bank will post 2.97 earnings per share for the current fiscal year.

Institutional Trading of HDFC Bank

A number of large investors have recently modified their holdings of HDB. UMB Bank n.a. boosted its holdings in HDFC Bank by 5.4% in the second quarter. UMB Bank n.a. now owns 4,831 shares of the bank’s stock valued at $311,000 after purchasing an additional 248 shares in the last quarter. Endowment Wealth Management Inc. lifted its holdings in HDFC Bank by 6.5% in the first quarter. Endowment Wealth Management Inc. now owns 4,438 shares of the bank’s stock valued at $248,000 after acquiring an additional 272 shares during the period. Mount Yale Investment Advisors LLC boosted its holdings in HDFC Bank by 5.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 6,114 shares of the bank’s stock worth $393,000 after buying an additional 322 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after acquiring an additional 324 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in HDFC Bank by 10.8% during the first quarter. Toronto Dominion Bank now owns 3,328 shares of the bank’s stock worth $186,000 after purchasing an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Company Profile

(Get Free Report)

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.

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