HDFC Bank (NYSE:HDB) Reaches New 1-Year High – Should You Buy?

HDFC Bank Limited (NYSE:HDB) shares hit a new 52-week high on Tuesday . The company traded as high as $70.13 and last traded at $69.54, with a volume of 1176790 shares changing hands. The stock had previously closed at $67.38.

Analyst Ratings Changes

HDB has been the topic of several research analyst reports. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Stock Performance

The company has a market capitalization of $175.82 billion, a PE ratio of 21.10, a PEG ratio of 2.12 and a beta of 0.68. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The business has a 50 day simple moving average of $62.49 and a 200 day simple moving average of $62.78.

HDFC Bank (NYSE:HDB) last issued its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Equities research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Hedge Funds Weigh In On HDFC Bank

Institutional investors and hedge funds have recently modified their holdings of the stock. FIL Ltd lifted its stake in shares of HDFC Bank by 17.5% in the 4th quarter. FIL Ltd now owns 17,467,131 shares of the bank’s stock valued at $1,115,451,000 after purchasing an additional 2,599,337 shares during the period. Temasek Holdings Private Ltd raised its stake in shares of HDFC Bank by 2.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank’s stock worth $546,500,000 after buying an additional 190,566 shares during the period. GQG Partners LLC lifted its position in shares of HDFC Bank by 74.4% during the 4th quarter. GQG Partners LLC now owns 7,883,347 shares of the bank’s stock valued at $503,431,000 after buying an additional 3,364,114 shares in the last quarter. FMR LLC increased its stake in shares of HDFC Bank by 13.3% during the fourth quarter. FMR LLC now owns 7,793,113 shares of the bank’s stock worth $497,668,000 after purchasing an additional 914,289 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of HDFC Bank by 43.0% during the 4th quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank’s stock worth $466,629,000 after purchasing an additional 2,196,315 shares during the last quarter. Institutional investors and hedge funds 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.