HDFC Bank (NYSE:HDB) Releases Earnings Results, Beats Estimates By $0.04 EPS

HDFC Bank (NYSE:HDB) posted its earnings results on Tuesday. The bank reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04, Zacks reports. The company had revenue of $16.48 billion during the quarter, compared to analysts’ expectations of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.06%.

HDFC Bank Price Performance

Shares of HDB stock opened at $32.35 on Wednesday. The company has a market cap of $165.03 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.32 and a beta of 0.57. HDFC Bank has a 1 year low of $29.04 and a 1 year high of $39.81. The stock’s 50 day simple moving average is $35.42 and its two-hundred day simple moving average is $36.10.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HDB. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Finally, Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Institutional Trading of HDFC Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC lifted its position in HDFC Bank by 90.4% in the third quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after buying an additional 403 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of HDFC Bank in the 2nd quarter worth about $75,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of HDFC Bank by 100.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after acquiring an additional 498 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of HDFC Bank during the 3rd quarter worth about $43,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in HDFC Bank by 464.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after purchasing an additional 1,221 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).