HDFC Bank (NYSE:HDB) Lowered to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of HDFC Bank (NYSE:HDB) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $67.50 on Wednesday. The firm has a market capitalization of $170.93 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. The business’s 50 day simple moving average is $63.26 and its 200-day simple moving average is $61.41. HDFC Bank has a 12 month low of $52.16 and a 12 month high of $67.76.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The company had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $4.84 billion. As a group, equities analysts forecast that HDFC Bank will post 3.15 earnings per share for the current fiscal year.

Institutional Trading of HDFC Bank

Several large investors have recently modified their holdings of HDB. Franklin Resources Inc. raised its position in shares of HDFC Bank by 9.0% during the 3rd quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock worth $420,477,000 after purchasing an additional 560,880 shares during the last quarter. Peapack Gladstone Financial Corp acquired a new position in shares of HDFC Bank in the third quarter worth $353,000. Synovus Financial Corp raised its holdings in shares of HDFC Bank by 0.8% in the third quarter. Synovus Financial Corp now owns 89,591 shares of the bank’s stock worth $5,605,000 after acquiring an additional 711 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of HDFC Bank by 9.1% during the third quarter. Sanctuary Advisors LLC now owns 30,557 shares of the bank’s stock valued at $1,971,000 after acquiring an additional 2,536 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of HDFC Bank during the third quarter valued at $985,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

About HDFC Bank

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.