HDFC Bank (NYSE:HDB) Stock Rating Lowered by TheStreet

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TheStreet cut shares of HDFC Bank (NYSE:HDB) from a b rating to a c+ rating in a research note issued to investors on Monday morning, TheStreetRatingsTable reports.

Other equities research analysts have also issued reports about the stock. Sanford C. Bernstein lowered shares of HDFC Bank from an outperform rating to a market perform rating in a research note on Tuesday, July 14th. Zacks Investment Research lowered HDFC Bank from a strong-buy rating to a hold rating in a research note on Thursday, July 23rd. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $54.00.

Shares of HDB opened at $47.72 on Monday. The firm has a market cap of $86.37 billion, a PE ratio of 23.17, a P/E/G ratio of 1.42 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.54. The firm has a fifty day simple moving average of $47.75 and a two-hundred day simple moving average of $45.72. HDFC Bank has a 1-year low of $29.50 and a 1-year high of $65.38.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, July 18th. The bank reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. The business had revenue of $2.62 billion during the quarter. HDFC Bank had a net margin of 19.51% and a return on equity of 15.05%. As a group, research analysts forecast that HDFC Bank will post 2.03 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Lindbrook Capital LLC lifted its holdings in shares of HDFC Bank by 318.5% during the first quarter. Lindbrook Capital LLC now owns 1,490 shares of the bank’s stock valued at $57,000 after acquiring an additional 1,134 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of HDFC Bank by 21.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,984 shares of the bank’s stock worth $115,000 after buying an additional 520 shares during the period. Assetmark Inc. grew its position in shares of HDFC Bank by 145.9% during the 2nd quarter. Assetmark Inc. now owns 3,352 shares of the bank’s stock worth $152,000 after buying an additional 1,989 shares during the period. Private Advisor Group LLC acquired a new position in shares of HDFC Bank during the 2nd quarter worth about $171,000. Finally, Mondrian Investment Partners LTD grew its position in shares of HDFC Bank by 49.4% during the 1st quarter. Mondrian Investment Partners LTD now owns 5,046 shares of the bank’s stock worth $194,000 after buying an additional 1,668 shares during the period. Institutional investors and hedge funds own 18.10% of the company’s stock.

HDFC Bank Company Profile

HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.

Further Reading: Current Ratio

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