HDFC Bank (NYSE:HDB) Rating Lowered to Market Perform at Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of HDFC Bank (NYSE:HDB) from an outperform rating to a market perform rating in a research report report published on Monday morning, BenzingaRatingsTable reports.

Other equities research analysts also recently issued reports about the company. Nomura downgraded HDFC Bank from a buy rating to a neutral rating and set a $128.63 price target on the stock. in a research report on Tuesday, June 11th. Zacks Investment Research downgraded HDFC Bank from a hold rating to a sell rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock presently has an average rating of Hold and a consensus target price of $136.82.

NYSE HDB traded down $0.22 during trading on Monday, hitting $104.78. 69,161 shares of the company traded hands, compared to its average volume of 754,584. HDFC Bank has a 12 month low of $85.43 and a 12 month high of $131.78. The business has a fifty day simple moving average of $109.91 and a 200 day simple moving average of $116.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $89.86 billion, a P/E ratio of 31.57, a PEG ratio of 1.17 and a beta of 0.45.



HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, July 20th. The bank reported $0.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.03). HDFC Bank had a net margin of 17.98% and a return on equity of 13.23%. The company had revenue of $4.65 billion for the quarter. Equities research analysts predict that HDFC Bank will post 3.97 EPS for the current fiscal year.

Several large investors have recently modified their holdings of HDB. Comerica Securities Inc. grew its position in shares of HDFC Bank by 26.7% in the fourth quarter. Comerica Securities Inc. now owns 8,048 shares of the bank’s stock valued at $834,000 after purchasing an additional 1,697 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of HDFC Bank by 11.0% in the first quarter. Janney Montgomery Scott LLC now owns 8,335 shares of the bank’s stock valued at $966,000 after purchasing an additional 826 shares during the last quarter. Gabelli Funds LLC grew its position in shares of HDFC Bank by 41.0% in the first quarter. Gabelli Funds LLC now owns 14,800 shares of the bank’s stock valued at $1,715,000 after purchasing an additional 4,300 shares during the last quarter. Parkwood LLC acquired a new stake in HDFC Bank during the first quarter worth about $10,896,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in HDFC Bank by 3.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,927 shares of the bank’s stock worth $1,846,000 after buying an additional 601 shares in the last quarter. 19.37% of the stock is currently owned by institutional investors.

HDFC Bank Company Profile

HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.

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