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

Shares of HDFC Bank Limited (NYSE:HDB) reached a new 52-week high during trading on Wednesday . The stock 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

HDFC Bank Stock Up 0.0 %

The stock has a market capitalization of $171.46 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 1.77 and a beta of 0.92. 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 company’s 50-day moving average is $63.43 and its 200 day moving average is $61.83.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.76 by $0.09. The firm had revenue of $9.21 billion during 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%. As a group, analysts anticipate that HDFC Bank Limited will post 3.15 EPS for the current year.

Hedge Funds Weigh In On HDFC Bank

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. raised its position in HDFC Bank by 21.1% during the 3rd quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock worth $71,559,000 after buying an additional 199,582 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in HDFC Bank by 13.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock worth $15,114,000 after buying an additional 28,500 shares during the last quarter. Northwest & Ethical Investments L.P. raised its position in HDFC Bank by 42.2% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 34,100 shares of the bank’s stock worth $2,133,000 after buying an additional 10,127 shares during the last quarter. US Bancorp DE raised its position in HDFC Bank by 38.1% during the 3rd quarter. US Bancorp DE now owns 139,865 shares of the bank’s stock worth $8,750,000 after buying an additional 38,571 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in HDFC Bank by 9.0% during the 3rd quarter. Fisher Asset Management LLC now owns 3,955,982 shares of the bank’s stock worth $247,486,000 after buying an additional 325,999 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other 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.