Jefferies Group Weighs in on HDFC Bank Limited’s FY2020 Earnings (HDB)

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.

Earnings History and Estimates for HDFC Bank Limited (NYSE:HDB)

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