HDFC Bank (NYSE:HDB) Upgraded at Nomura

HDFC Bank (NYSE:HDB) was upgraded by research analysts at Nomura from a “neutral” rating to a “buy” rating in a report released on Thursday,Briefing.com Automated Import reports.

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

HDFC Bank Stock Performance

Shares of HDFC Bank stock traded down $1.41 on Thursday, reaching $59.27. 1,189,137 shares of the stock were exchanged, compared to its average volume of 2,967,470. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $150.10 billion, a PE ratio of 18.00, a PEG ratio of 1.67 and a beta of 0.92. HDFC Bank has a 1-year low of $52.16 and a 1-year high of $68.50. The business has a fifty day moving average price of $63.82 and a two-hundred day moving average price of $62.42.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. As a group, research analysts anticipate that HDFC Bank will post 3.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in HDFC Bank by 612.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 243,980 shares of the bank’s stock valued at $15,695,000 after buying an additional 209,726 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of HDFC Bank by 6.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 13,906 shares of the bank’s stock valued at $895,000 after acquiring an additional 833 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of HDFC Bank by 77.5% in the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the bank’s stock valued at $211,000 after acquiring an additional 1,539 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its stake in shares of HDFC Bank by 30.2% during the second quarter. Zurich Insurance Group Ltd FI now owns 101,724 shares of the bank’s stock valued at $6,544,000 after acquiring an additional 23,581 shares during the last quarter. Finally, Eminence Capital LP purchased a new stake in HDFC Bank during the 2nd quarter worth about $68,340,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

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.