HDFC Bank (NYSE:HDB) Hits New 1-Year High – What’s Next?

HDFC Bank Limited (NYSE:HDB) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $67.48 and last traded at $67.41, with a volume of 796931 shares trading hands. The stock had previously closed at $66.65.

Analyst Ratings Changes

Separately, StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

HDFC Bank Trading Up 1.2 %

The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The business has a 50 day moving average of $63.18 and a 200-day moving average of $61.37. The firm has a market capitalization of $170.83 billion, a P/E ratio of 20.26, a PEG ratio of 1.78 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. The business had revenue of $9.21 billion for 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%. Analysts anticipate that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

Institutional Trading of HDFC Bank

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pin Oak Investment Advisors Inc. increased its stake in HDFC Bank by 104.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after buying an additional 254 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of HDFC Bank in the second quarter valued at $36,000. Northwest Investment Counselors LLC acquired a new stake in HDFC Bank in the third quarter valued at $38,000. JFS Wealth Advisors LLC raised its holdings in shares of HDFC Bank by 70.2% in the 3rd 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 period. Finally, LRI Investments LLC acquired a new stake in HDFC Bank in the 1st quarter valued at about $56,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

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.