HDFC Bank (NYSE:HDB) Shares Gap Down – Here’s What Happened

HDFC Bank Limited (NYSE:HDB)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $66.44, but opened at $64.74. HDFC Bank shares last traded at $64.86, with a volume of 777,611 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on HDB shares. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Trading Down 2.0 %

The stock’s fifty day moving average price is $61.17 and its 200 day moving average price is $62.70. The stock has a market capitalization of $164.83 billion, a P/E ratio of 19.78, a PEG ratio of 2.12 and a beta of 0.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09.

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

Institutional Investors Weigh In On HDFC Bank

Institutional investors and hedge funds have recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of HDFC Bank during the fourth quarter valued at $29,000. Graney & King LLC bought a new position in HDFC Bank during the 4th quarter worth about $38,000. Brown Brothers Harriman & Co. increased its position in HDFC Bank by 63.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock valued at $39,000 after purchasing an additional 240 shares during the period. Sierra Ocean LLC bought a new stake in shares of HDFC Bank in the 4th quarter valued at about $42,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of HDFC Bank in the 4th quarter valued at about $56,000. 17.61% of the stock is owned by institutional investors.

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.