HDFC Bank (NYSE:HDB) Hits New 12-Month Low – What’s Next?

HDFC Bank Limited (NYSE:HDB) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $27.91 and last traded at $27.8430, with a volume of 4099710 shares traded. The stock had previously closed at $28.71.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, HDFC Bank presently has an average rating of “Reduce”.

HDFC Bank Trading Down 7.2%

The company has a 50-day moving average price of $32.08 and a two-hundred day moving average price of $34.44. The stock has a market capitalization of $135.91 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.21 and a beta of 0.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its position in shares of HDFC Bank by 137.6% during the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock worth $861,554,000 after acquiring an additional 14,606,422 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of HDFC Bank by 104.4% in the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock valued at $656,035,000 after purchasing an additional 9,808,890 shares during the last quarter. Royal Bank of Canada lifted its position in shares of HDFC Bank by 31.0% during the fourth quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock valued at $1,457,865,000 after purchasing an additional 9,451,992 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of HDFC Bank by 9,866.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock valued at $271,381,000 after purchasing an additional 7,864,692 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in HDFC Bank by 106.1% during the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after purchasing an additional 7,147,440 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Company Profile

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).