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

Shares of HDFC Bank Limited (NYSE:HDB) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $75.89 and last traded at $75.85, with a volume of 316626 shares. The stock had previously closed at $75.08.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th.

HDFC Bank Price Performance

The stock has a market capitalization of $196.36 billion, a PE ratio of 23.57, a P/E/G ratio of 2.12 and a beta of 0.64. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s 50 day simple moving average is $71.44 and its 200 day simple moving average is $65.64.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $434.68 billion. As a group, equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Institutional Investors Weigh In On HDFC Bank

Hedge funds and other institutional investors have recently modified their holdings of the stock. Whipplewood Advisors LLC purchased a new position in HDFC Bank in the 4th quarter worth approximately $29,000. Larson Financial Group LLC lifted its holdings in HDFC Bank by 1,217.1% in the 1st 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 period. Graney & King LLC bought a new position in shares of HDFC Bank during the fourth quarter valued at approximately $38,000. Brown Brothers Harriman & Co. lifted its holdings in HDFC Bank by 63.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock worth $39,000 after buying an additional 240 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in shares of HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock worth $41,000 after buying an additional 507 shares during the period. 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.