HDFC Bank (NYSE:HDB) Hits New 52-Week High – Should You Buy?

HDFC Bank Limited (NYSE:HDB)’s stock price 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. The stock had previously closed at $66.70.

Analyst Ratings Changes

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

HDFC Bank Price Performance

The stock’s 50-day moving average price is $63.36 and its 200 day moving average price is $61.75. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $171.64 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.77 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. The business had revenue of $9.21 billion for 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%. Equities research analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.

Institutional Trading of HDFC Bank

Several large investors have recently added to or reduced their stakes in HDB. Baillie Gifford & Co. grew its holdings in shares of HDFC Bank by 2.3% in the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after purchasing an additional 263,690 shares during the period. Temasek Holdings Private Ltd increased its holdings in shares of HDFC Bank by 1.6% during the 3rd quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock worth $523,453,000 after buying an additional 132,445 shares during the last quarter. FMR LLC lifted its stake in shares of HDFC Bank by 19.3% in the 3rd quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock valued at $430,339,000 after purchasing an additional 1,114,210 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of HDFC Bank by 9.0% during the 3rd quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock worth $420,477,000 after purchasing an additional 560,880 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of HDFC Bank by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock worth $317,141,000 after purchasing an additional 108,312 shares during the last quarter. 17.61% of the stock is currently 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.