HDFC Bank (NYSE:HDB) Trading Down 5.9% – Should You Sell?

HDFC Bank Limited (NYSE:HDB)’s stock price dropped 5.9% on Monday . The stock traded as low as $34.35 and last traded at $34.3140. Approximately 6,380,369 shares traded hands during mid-day trading, an increase of 38% from the average daily volume of 4,639,095 shares. The stock had previously closed at $36.48.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday, December 29th. Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, HDFC Bank presently has an average rating of “Moderate Buy”.

HDFC Bank Price Performance

The stock has a market cap of $174.39 billion, a P/E ratio of 20.78, a PEG ratio of 1.64 and a beta of 0.57. The company has a fifty day moving average of $36.21 and a 200 day moving average of $36.51.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $4.98 billion. As a group, analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

Institutional Investors Weigh In On HDFC Bank

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Financial Perspectives Inc grew its stake in shares of HDFC Bank by 1.3% in the 2nd quarter. Financial Perspectives Inc now owns 10,769 shares of the bank’s stock worth $826,000 after purchasing an additional 136 shares during the last quarter. Insigneo Advisory Services LLC boosted its holdings in HDFC Bank by 4.9% during the second quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock worth $249,000 after buying an additional 152 shares in the last quarter. Huntington National Bank boosted its holdings in HDFC Bank by 13.3% during the second quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock worth $103,000 after buying an additional 158 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of HDFC Bank by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock valued at $1,127,000 after buying an additional 194 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in shares of HDFC Bank by 1.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 15,022 shares of the bank’s stock worth $1,152,000 after acquiring an additional 215 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).