HDFC Bank (NYSE:HDB) Rating Increased to Hold at Wall Street Zen

Key Points

• HDFC Bank has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen.
• The bank reported earnings per share (EPS) of $0.74 for the last quarter, slightly missing the consensus estimate of $0.75.
• Large investors have increasingly modified their holdings in HDFC Bank, with notable increases in positions from multiple hedge funds and institutions.

HDFC Bank (NYSE:HDB - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

HDFC Bank Price Performance

HDB opened at $77.86 on Friday. The stock has a 50-day moving average price of $75.62 and a 200-day moving average price of $68.21. The firm has a market cap of $197.18 billion, a PE ratio of 23.88, a P/E/G ratio of 1.94 and a beta of 0.64. HDFC Bank has a 1 year low of $57.24 and a 1 year high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). The company had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. As a group, sell-side analysts anticipate that HDFC Bank will post 3.03 EPS for the current year.

Hedge Funds Weigh In On HDFC Bank

Large investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division bought a new stake in HDFC Bank in the 2nd quarter worth about $29,000. Roxbury Financial LLC bought a new position in HDFC Bank in the second quarter valued at about $30,000. Larson Financial Group LLC boosted its holdings in shares of HDFC Bank by 1,217.1% in the first quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after buying an additional 426 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of 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 acquiring an additional 240 shares during the period. Finally, Cullen Frost Bankers Inc. grew its holdings in HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock valued at $41,000 after purchasing an additional 507 shares during the period. Hedge funds and other institutional investors own 17.61% of the company's stock.

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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