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

HDFC Bank (NYSE:HDB) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded up $0.85 during trading on Wednesday, reaching $67.50. 5,700,010 shares of the company’s stock traded hands, compared to its average volume of 3,009,986. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. HDFC Bank has a 12 month low of $52.16 and a 12 month high of $67.76. The company has a 50 day moving average of $63.26 and a 200-day moving average of $61.41. The stock has a market capitalization of $170.93 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share 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 business had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. On average, equities analysts expect that HDFC Bank will post 3.15 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. grew its position in HDFC Bank by 21.1% in the 3rd quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock worth $71,559,000 after purchasing an additional 199,582 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in HDFC Bank by 13.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock worth $15,114,000 after purchasing an additional 28,500 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in HDFC Bank in the 2nd quarter worth about $166,709,000. US Bancorp DE grew its position in HDFC Bank by 38.1% in the 3rd quarter. US Bancorp DE now owns 139,865 shares of the bank’s stock worth $8,750,000 after purchasing an additional 38,571 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its position in HDFC Bank by 56.3% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock worth $8,981,000 after purchasing an additional 50,301 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

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.