HDFC Bank (NYSE:HDB) Stock Rating Lowered by StockNews.com

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

HDFC Bank Trading Down 1.1 %

HDFC Bank stock opened at $66.79 on Wednesday. HDFC Bank has a 12-month low of $52.16 and a 12-month high of $67.76. The firm has a market capitalization of $169.13 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 1.79 and a beta of 0.91. The firm has a 50 day moving average of $63.34 and a 200 day moving average of $61.53. 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 posted its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. The company had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. As a group, research analysts predict that HDFC Bank will post 3.15 earnings per share for the current year.

Institutional Trading of HDFC Bank

Several institutional investors have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. boosted its stake in shares of HDFC Bank by 104.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after purchasing an additional 254 shares during the period. Ridgewood Investments LLC bought a new stake in HDFC Bank during the 2nd quarter valued at about $36,000. Northwest Investment Counselors LLC purchased a new stake in HDFC Bank in the 3rd quarter valued at about $38,000. JFS Wealth Advisors LLC grew its stake in HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of HDFC Bank during the first quarter worth approximately $56,000. 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.