HDFC Bank (NYSE:HDB) Sets New 1-Year High - Time to Buy?

HDFC Bank Limited (NYSE:HDB - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $78.14 and last traded at $77.57, with a volume of 975955 shares. The stock had previously closed at $75.96.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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 stock has a market capitalization of $195.11 billion, a P/E ratio of 23.35, a PEG ratio of 1.81 and a beta of 0.64. The firm has a 50-day moving average of $73.80 and a 200 day moving average of $66.43. The company has a quick ratio of 0.09, a current ratio of 0.07 and a debt-to-equity ratio of 1.26.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $434.68 billion. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. Research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Militia Capital Partners LP bought a new position in HDFC Bank in the first quarter worth $241,000. Acadian Asset Management LLC bought a new position in shares of HDFC Bank during the first quarter valued at $19,366,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of HDFC Bank by 3,715.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank's stock valued at $279,029,000 after acquiring an additional 4,089,647 shares during the period. Zurich Insurance Group Ltd FI lifted its holdings in shares of HDFC Bank by 3.1% during the first quarter. Zurich Insurance Group Ltd FI now owns 162,454 shares of the bank's stock valued at $10,793,000 after acquiring an additional 4,862 shares during the period. Finally, Axiom Investors LLC DE lifted its holdings in shares of HDFC Bank by 304.2% during the first quarter. Axiom Investors LLC DE now owns 29,100 shares of the bank's stock valued at $1,933,000 after acquiring an additional 21,900 shares during the period. 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.