HDFC Bank Limited (NYSE:HDB) – Jefferies Group upped their FY2020 earnings estimates for HDFC Bank Limited in a report released on Tuesday. Jefferies Group analyst N. Karfa now anticipates that the bank will post earnings per share of $5.09 for the year, up from their prior estimate of $4.63. Jefferies Group currently has a “Buy” rating on the stock.
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Other equities analysts also recently issued reports about the stock. BidaskClub upgraded shares of HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of HDFC Bank Limited from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Morgan Stanley upgraded shares of HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. HDFC Bank Limited has an average rating of “Buy” and an average price target of $103.00.
Shares of HDFC Bank Limited (HDB) traded up 0.57% during mid-day trading on Thursday, hitting $96.84. The stock had a trading volume of 335,182 shares. The stock has a market cap of $496.31 billion, a P/E ratio of 210.98 and a beta of 0.85. The company’s 50 day moving average is $89.81 and its 200-day moving average is $79.26. HDFC Bank Limited has a 52-week low of $59.00 and a 52-week high of $97.20.
Several institutional investors have recently added to or reduced their stakes in the stock. Financial Counselors Inc. increased its position in HDFC Bank Limited by 0.7% in the first quarter. Financial Counselors Inc. now owns 5,745 shares of the bank’s stock worth $432,000 after buying an additional 39 shares in the last quarter. Level Four Advisory Services LLC increased its position in HDFC Bank Limited by 0.5% in the first quarter. Level Four Advisory Services LLC now owns 10,723 shares of the bank’s stock worth $810,000 after buying an additional 53 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in HDFC Bank Limited by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,290 shares of the bank’s stock worth $247,000 after buying an additional 76 shares in the last quarter. Huntington National Bank increased its position in HDFC Bank Limited by 4.9% in the second quarter. Huntington National Bank now owns 1,730 shares of the bank’s stock worth $150,000 after buying an additional 81 shares in the last quarter. Finally, Creative Planning increased its position in HDFC Bank Limited by 6.3% in the first quarter. Creative Planning now owns 1,700 shares of the bank’s stock worth $128,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 18.60% of the company’s stock.
The firm also recently disclosed a None dividend, which will be paid on Thursday, August 3rd. Stockholders of record on Thursday, June 29th will be paid a dividend of $0.494 per share. The ex-dividend date of this dividend is Tuesday, June 27th.
HDFC Bank Limited Company Profile
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.
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