HDFC Bank (NYSE:HDB) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS

HDFC Bank (NYSE:HDB) announced its quarterly earnings results on Wednesday. The bank reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08, Zacks reports. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%.

HDFC Bank Stock Performance

NYSE HDB opened at $60.69 on Thursday. HDFC Bank has a 1-year low of $52.16 and a 1-year high of $68.50. The company has a 50 day moving average of $63.82 and a 200-day moving average of $62.42. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a market cap of $153.69 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 1.67 and a beta of 0.92.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

About HDFC Bank

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.