HDFC Bank Limited (NYSE:HDB) – Stock analysts at Jefferies Group reduced their FY2018 EPS estimates for HDFC Bank Limited in a research note issued on Tuesday, Zacks Investment Research reports. Jefferies Group analyst N. Karfa now forecasts that the bank will earn $3.09 per share for the year, down from their prior forecast of $3.18. Jefferies Group has a “Buy” rating on the stock.
A number of other brokerages also recently commented on HDB. Zacks Investment Research upgraded HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Wednesday, August 16th. Morgan Stanley upgraded HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. HDFC Bank Limited currently has a consensus rating of “Buy” and an average price target of $110.00.
HDFC Bank Limited (NYSE:HDB) opened at $94.02 on Friday. The company has a market capitalization of $80,310.19, a PE ratio of 35.35, a PEG ratio of 1.07 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.91. HDFC Bank Limited has a fifty-two week low of $59.00 and a fifty-two week high of $100.26.
Several institutional investors have recently bought and sold shares of HDB. Egerton Capital UK LLP bought a new position in shares of HDFC Bank Limited during the 2nd quarter worth approximately $196,127,000. Harding Loevner LP raised its position in HDFC Bank Limited by 177.5% in the 2nd quarter. Harding Loevner LP now owns 3,508,003 shares of the bank’s stock valued at $305,091,000 after purchasing an additional 2,244,012 shares during the last quarter. BlackRock Inc. raised its position in HDFC Bank Limited by 105.1% in the 2nd quarter. BlackRock Inc. now owns 2,103,171 shares of the bank’s stock valued at $182,912,000 after purchasing an additional 1,077,828 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in HDFC Bank Limited by 170.0% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 1,357,680 shares of the bank’s stock valued at $118,078,000 after purchasing an additional 854,828 shares during the last quarter. Finally, FMR LLC raised its position in HDFC Bank Limited by 4.1% in the 2nd quarter. FMR LLC now owns 14,824,081 shares of the bank’s stock valued at $1,289,251,000 after purchasing an additional 589,126 shares during the last quarter. Institutional investors and hedge funds own 17.81% of the company’s stock.
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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