HDFC Bank Limited (NYSE:HDB) Sees Large Drop in Short Interest

HDFC Bank Limited (NYSE:HDB) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 16,480,000 shares, a drop of 5.8% from the September 15th total of 17,500,000 shares. Based on an average trading volume of 2,880,000 shares, the short-interest ratio is presently 5.7 days.

Hedge Funds Weigh In On HDFC Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in shares of HDFC Bank by 5.4% in the 2nd quarter. UMB Bank n.a. now owns 4,831 shares of the bank’s stock valued at $311,000 after acquiring an additional 248 shares during the last quarter. Endowment Wealth Management Inc. increased its holdings in HDFC Bank by 6.5% in the 1st quarter. Endowment Wealth Management Inc. now owns 4,438 shares of the bank’s stock worth $248,000 after purchasing an additional 272 shares in the last quarter. GAMMA Investing LLC raised its position in HDFC Bank by 34.6% in the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock valued at $76,000 after purchasing an additional 312 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its stake in shares of HDFC Bank by 5.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 6,114 shares of the bank’s stock valued at $393,000 after purchasing an additional 322 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of HDFC Bank by 10.8% during the first quarter. Toronto Dominion Bank now owns 3,328 shares of the bank’s stock worth $186,000 after purchasing an additional 325 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDFC Bank stock traded up $0.76 during mid-day trading on Wednesday, reaching $62.15. 382,718 shares of the company were exchanged, compared to its average volume of 3,074,304. The firm has a market cap of $115.59 billion, a PE ratio of 18.84, a PEG ratio of 1.95 and a beta of 0.92. The company has a fifty day simple moving average of $61.61 and a 200-day simple moving average of $60.15. HDFC Bank has a 12 month low of $52.16 and a 12 month high of $67.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The company had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. As a group, equities research analysts expect that HDFC Bank will post 2.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HDB has been the subject of a number of research reports. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

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.