HDFC Bank Limited (NYSE:HDB) Short Interest Update

HDFC Bank Limited (NYSE:HDB) saw a large decrease in short interest in November. As of November 30th, there was short interest totalling 17,360,000 shares, a decrease 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 days-to-cover ratio is currently 6.3 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HDB. Baillie Gifford & Co. lifted its position in HDFC Bank by 2.3% during the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after purchasing an additional 263,690 shares during the period. Temasek Holdings Private Ltd grew its position in HDFC Bank by 1.6% during the third quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock valued at $523,453,000 after buying an additional 132,445 shares during the period. FMR LLC raised 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 acquiring an additional 1,114,210 shares during the period. Franklin Resources Inc. grew its position 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 acquiring an additional 560,880 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of HDFC Bank by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock worth $317,141,000 after purchasing an additional 108,312 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB traded down $1.17 during mid-day trading on Tuesday, reaching $65.52. 3,090,158 shares of the stock traded hands, compared to its average volume of 3,005,570. The firm has a fifty day moving average price of $64.29 and a 200 day moving average price of $62.46. HDFC Bank has a 1 year low of $52.16 and a 1 year high of $68.50. The company has a market cap of $165.92 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth 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 issued its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share 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 company had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $4.84 billion. As a group, equities research analysts predict that HDFC Bank will post 3.15 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.