HDFC Bank (NYSE:HDB) Hits New 52-Week High - Time to Buy?

HDFC Bank Limited (NYSE:HDB - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $78.92 and last traded at $78.51, with a volume of 1261257 shares trading hands. The stock had previously closed at $75.28.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th.

HDFC Bank Stock Performance

The business's 50-day moving average is $75.04 and its 200 day moving average is $67.72. The company has a market cap of $198.77 billion, a PE ratio of 23.79, a PEG ratio of 1.86 and a beta of 0.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.04 and a current ratio of 1.04.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. HDFC Bank had a net margin of 15.02% and a return on equity of 12.00%. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $434.68 billion. On average, equities research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bank Pictet & Cie Europe AG increased its holdings in HDFC Bank by 451.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock worth $1,245,000 after purchasing an additional 15,955 shares in the last quarter. Corient Private Wealth LLC boosted its position in HDFC Bank by 15.6% during the 4th quarter. Corient Private Wealth LLC now owns 22,144 shares of the bank's stock valued at $1,414,000 after acquiring an additional 2,996 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in HDFC Bank by 14.7% during the 4th quarter. iA Global Asset Management Inc. now owns 6,737 shares of the bank's stock valued at $430,000 after purchasing an additional 861 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in HDFC Bank by 66.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 5,780 shares of the bank's stock valued at $369,000 after acquiring an additional 2,313 shares during the period. Finally, TD Private Client Wealth LLC lifted its holdings in shares of HDFC Bank by 8.7% in the 4th quarter. TD Private Client Wealth LLC now owns 5,337 shares of the bank's stock valued at $341,000 after acquiring an additional 428 shares during the last quarter. 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.

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