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

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

HDFC Bank Stock Performance

Shares of HDB stock opened at $66.79 on Wednesday. The company’s fifty day moving average price is $63.34 and its 200-day moving average price is $61.53. The stock has a market cap of $169.13 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.79 and a beta of 0.91. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. 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 quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate 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. On average, equities analysts expect that HDFC Bank will post 3.15 EPS for the current fiscal year.

Institutional Trading of HDFC Bank

A number of institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its holdings in shares of HDFC Bank by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after buying an additional 263,690 shares during the period. Temasek Holdings Private Ltd lifted its holdings in HDFC Bank by 1.6% in the third quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock valued at $523,453,000 after acquiring an additional 132,445 shares during the period. FMR LLC boosted its position in HDFC Bank by 19.3% in the third quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock worth $430,339,000 after purchasing an additional 1,114,210 shares during the last quarter. Franklin Resources Inc. grew its stake 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 valued at $420,477,000 after purchasing an additional 560,880 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of HDFC Bank by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock valued at $317,141,000 after purchasing an additional 108,312 shares during the last quarter. Hedge funds and other 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.