HDFC Bank (NYSE:HDB) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of HDFC Bank (NYSE:HDB – Get Rating) in a report published on Thursday morning. The brokerage issued a hold rating on the bank’s stock.

HDFC Bank Price Performance

HDB opened at $63.15 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.79. The company’s 50-day moving average price is $67.30 and its 200 day moving average price is $65.49. HDFC Bank has a fifty-two week low of $50.61 and a fifty-two week high of $71.76. The firm has a market cap of $116.73 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75.

HDFC Bank (NYSE:HDB – Get Rating) last announced its quarterly earnings results on Saturday, January 14th. The bank reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. HDFC Bank had a return on equity of 16.86% and a net margin of 22.90%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.69 billion. As a group, sell-side analysts expect that HDFC Bank will post 2.91 earnings per share for the current year.

Hedge Funds Weigh In On HDFC Bank

Hedge funds and other institutional investors have recently modified their holdings of the company. GQG Partners LLC lifted its position in HDFC Bank by 1,376.7% in the 2nd quarter. GQG Partners LLC now owns 12,417,079 shares of the bank’s stock valued at $682,892,000 after purchasing an additional 11,576,234 shares during the last quarter. Jennison Associates LLC boosted its position in shares of HDFC Bank by 122.5% during the fourth quarter. Jennison Associates LLC now owns 6,693,510 shares of the bank’s stock worth $457,903,000 after buying an additional 3,684,635 shares during the period. Lone Pine Capital LLC bought a new position in HDFC Bank in the 3rd quarter worth approximately $129,868,000. BlackRock Inc. increased its position in HDFC Bank by 57.1% in the 1st quarter. BlackRock Inc. now owns 4,838,182 shares of the bank’s stock valued at $296,725,000 after acquiring an additional 1,757,638 shares during the period. Finally, CCLA Investment Management bought a new stake in HDFC Bank during the 3rd quarter valued at $98,820,000. Institutional investors and hedge funds own 17.50% of the company’s stock.

HDFC Bank Company Profile

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HDFC Bank Ltd. engages in the provision of banking and financial services, including commercial banking and treasury operations. The firm also provides financial services to upper and middle income individuals and corporations in India. It operates through the following segments: Treasury, Retail Banking, Wholesale Banking and Other Banking Operations.