HDFC Bank (NYSE:HDB) Reaches New 12-Month High – Here’s Why

HDFC Bank Limited (NYSE:HDB) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $67.78 and last traded at $67.64, with a volume of 803934 shares changing hands. The stock had previously closed at $66.70.

Wall Street Analyst Weigh In

Separately, StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

HDFC Bank Stock Performance

The company has a market capitalization of $171.64 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.77 and a beta of 0.92. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a 50-day simple moving average of $63.36 and a two-hundred day simple moving average of $61.75.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.09. The firm had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. On average, sell-side analysts anticipate that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

Institutional Trading of HDFC Bank

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in HDFC Bank by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 122,023 shares of the bank’s stock valued at $6,830,000 after purchasing an additional 12,037 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in HDFC Bank during the 1st quarter worth approximately $222,000. Cetera Advisors LLC purchased a new stake in shares of HDFC Bank in the 1st quarter valued at approximately $444,000. GAMMA Investing LLC raised its holdings in shares of HDFC Bank by 56.0% in the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after purchasing an additional 324 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of HDFC Bank by 24.9% during the 2nd quarter. Park Avenue Securities LLC now owns 16,582 shares of the bank’s stock worth $1,067,000 after purchasing an additional 3,306 shares during the last quarter. 17.61% of the stock is currently 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.