HDFC Bank (NYSE:HDB) Releases Earnings Results, Beats Expectations By $0.04 EPS

HDFC Bank (NYSE:HDB) released its earnings results on Tuesday. The bank reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04, Zacks reports. HDFC Bank had a net margin of 14.92% and a return on equity of 11.06%. The firm had revenue of $16.48 billion for the quarter, compared to the consensus estimate of $5.12 billion.

HDFC Bank Stock Performance

HDB opened at $32.11 on Thursday. The stock has a market capitalization of $163.78 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.30 and a beta of 0.57. The company’s 50-day simple moving average is $35.33 and its two-hundred day simple moving average is $36.07. HDFC Bank has a 52-week low of $29.04 and a 52-week high of $39.81.

Analysts Set New Price Targets

HDB has been the topic of several research reports. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. Finally, Wall Street Zen downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, HDFC Bank currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its holdings in HDFC Bank by 109.8% in the third quarter. Captrust Financial Advisors now owns 102,154 shares of the bank’s stock worth $3,490,000 after purchasing an additional 53,469 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of HDFC Bank by 169.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 33,561 shares of the bank’s stock worth $1,146,000 after buying an additional 21,118 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of HDFC Bank in the third quarter worth $43,000. Advisory Services Network LLC purchased a new stake in HDFC Bank during the third quarter valued at $103,000. Finally, Morningstar Investment Management LLC bought a new position in HDFC Bank in the third quarter valued at about $6,838,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

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).