HDFC Bank (NYSE:HDB) Rating Lowered to “Sell” at StockNews.com

HDFC Bank (NYSE:HDB) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

HDFC Bank Price Performance

Shares of NYSE:HDB traded up $0.85 during trading on Wednesday, reaching $67.50. The company had a trading volume of 5,700,010 shares, compared to its average volume of 3,009,986. The firm’s fifty day moving average is $63.26 and its 200 day moving average is $61.41. The firm has a market capitalization 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. HDFC Bank has a twelve month low of $52.16 and a twelve month high of $67.76. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. The company had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. On average, equities analysts forecast that HDFC Bank will post 3.15 EPS for the current year.

Institutional Trading of HDFC Bank

Institutional investors have recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. lifted its stake in 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 last quarter. Ridgewood Investments LLC acquired a new stake in HDFC Bank during the second quarter valued at approximately $36,000. Northwest Investment Counselors LLC acquired a new stake in HDFC Bank during the third quarter valued at approximately $38,000. JFS Wealth Advisors LLC lifted its stake in HDFC Bank by 70.2% during the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in HDFC Bank by 56.0% during the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after purchasing an additional 324 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

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.