HDFC Bank Limited (NYSE:HDB) – Jefferies Group lowered their FY2018 earnings per share (EPS) estimates for shares of HDFC Bank Limited in a research note issued on Tuesday, according to Zacks Investment Research. Jefferies Group analyst N. Karfa now expects that the bank will post earnings per share of $3.09 for the year, down from their previous forecast of $3.18. Jefferies Group currently has a “Buy” rating on the stock.
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Several other research analysts have also issued reports on the company. Zacks Investment Research upgraded HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Friday, July 21st. BidaskClub raised HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Finally, Morgan Stanley raised HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $110.00.
HDFC Bank Limited (NYSE HDB) opened at $94.02 on Friday. HDFC Bank Limited has a 12-month low of $59.00 and a 12-month high of $100.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $80,310.19, a price-to-earnings ratio of 35.35, a PEG ratio of 1.07 and a beta of 0.83.
A number of institutional investors have recently modified their holdings of HDB. First Interstate Bank acquired a new stake in shares of HDFC Bank Limited in the 2nd quarter valued at about $103,000. Parallel Advisors LLC raised its stake in shares of HDFC Bank Limited by 14.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,469 shares of the bank’s stock valued at $142,000 after purchasing an additional 189 shares during the period. Independent Portfolio Consultants Inc. raised its stake in shares of HDFC Bank Limited by 744.5% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,689 shares of the bank’s stock valued at $147,000 after purchasing an additional 1,489 shares during the period. Huntington National Bank raised its stake in shares of HDFC Bank Limited by 4.9% in the 2nd quarter. Huntington National Bank now owns 1,730 shares of the bank’s stock valued at $150,000 after purchasing an additional 81 shares during the period. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of HDFC Bank Limited in the 2nd quarter valued at about $156,000. 17.81% of the stock is currently owned by institutional investors and hedge funds.
About HDFC Bank Limited
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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