HDFC Bank (NYSE:HDB) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of HDFC Bank (NYSE:HDB) from a hold rating to a sell rating in a report issued on Wednesday.

HDFC Bank Stock Up 1.3 %

Shares of HDB opened at $67.50 on Wednesday. The firm has a market cap of $170.93 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. The company’s fifty day moving average is $63.26 and its two-hundred day moving average is $61.41. HDFC Bank has a fifty-two week low of $52.16 and a fifty-two week 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. The firm had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. Analysts forecast that HDFC Bank will post 3.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HDB. Franklin Resources Inc. increased its position in shares of HDFC Bank by 9.0% in the third quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock worth $420,477,000 after acquiring an additional 560,880 shares in the last quarter. Peapack Gladstone Financial Corp acquired a new stake in HDFC Bank in the 3rd quarter valued at $353,000. Synovus Financial Corp raised its position 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 purchasing an additional 711 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of HDFC Bank by 9.1% during the third quarter. Sanctuary Advisors LLC now owns 30,557 shares of the bank’s stock worth $1,971,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of HDFC Bank in the third quarter worth about $985,000. 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.