HDFC Bank Limited (NYSE:HDB) Short Interest Down 10.1% in November

HDFC Bank Limited (NYSE:HDB) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 17,360,000 shares, a decline of 10.1% from the November 15th total of 19,300,000 shares. Based on an average daily volume of 2,740,000 shares, the short-interest ratio is presently 6.3 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

HDFC Bank Trading Down 1.8 %

HDB stock traded down $1.17 during trading on Tuesday, hitting $65.52. The company had a trading volume of 3,090,158 shares, compared to its average volume of 3,005,570. The business has a 50-day moving average of $64.29 and a 200-day moving average of $62.46. HDFC Bank has a one year low of $52.16 and a one year high of $68.50. The stock has a market cap of $165.92 billion, a PE ratio of 19.91, a PEG ratio of 1.79 and a beta of 0.92. 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 (NYSE:HDB) last announced its earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating 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 business had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Research analysts predict that HDFC Bank will post 3.15 earnings per share for the current fiscal year.

Institutional Trading of HDFC Bank

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in HDFC Bank by 9.0% in the third quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock valued at $420,477,000 after buying an additional 560,880 shares during the period. Peapack Gladstone Financial Corp acquired a new position in HDFC Bank in the third quarter valued at approximately $353,000. Synovus Financial Corp lifted its stake in HDFC Bank by 0.8% in the third quarter. Synovus Financial Corp now owns 89,591 shares of the bank’s stock valued at $5,605,000 after buying an additional 711 shares during the period. Sanctuary Advisors LLC lifted its stake in HDFC Bank by 9.1% in the third quarter. Sanctuary Advisors LLC now owns 30,557 shares of the bank’s stock valued at $1,971,000 after buying an additional 2,536 shares during the period. Finally, Virtu Financial LLC acquired a new position in HDFC Bank in the third quarter valued at approximately $985,000. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Company Profile

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.