HDFC Bank Limited (NYSE:HDB) Short Interest Down 10.1% in November

HDFC Bank Limited (NYSE:HDB) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 17,360,000 shares, a drop of 10.1% from the November 15th total of 19,300,000 shares. Based on an average daily trading volume, of 2,740,000 shares, the days-to-cover ratio is currently 6.3 days.

Analysts Set New Price Targets

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

HDFC Bank Price Performance

HDB stock traded down $1.17 during midday trading on Tuesday, reaching $65.52. The company had a trading volume of 3,090,158 shares, compared to its average volume of 3,005,570. The company has a market capitalization of $165.92 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. The stock has a 50 day moving average price of $64.29 and a 200-day moving average price of $62.46. HDFC Bank has a 1-year low of $52.16 and a 1-year high of $68.50. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. The business had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. Equities research analysts expect that HDFC Bank will post 3.15 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. grew its position in HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after acquiring an additional 254 shares during the last quarter. Ridgewood Investments LLC bought a new position in HDFC Bank in the second quarter valued at about $36,000. Northwest Investment Counselors LLC bought a new position in HDFC Bank in the third quarter valued at about $38,000. JFS Wealth Advisors LLC grew its position in HDFC Bank by 70.2% in the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in HDFC Bank in the third quarter valued at about $65,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Company Profile

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.