HDFC Bank (NYSE:HDB) Downgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of HDFC Bank (NYSE:HDB) from an overweight rating to a neutral rating in a research report report published on Monday, MarketBeat reports.

Separately, StockNews.com lowered HDFC Bank from a hold rating to a sell rating in a research report on Thursday, June 13th.

HDFC Bank Price Performance

NYSE HDB opened at $60.21 on Monday. HDFC Bank has a 1 year low of $52.16 and a 1 year high of $71.39. The stock’s 50-day moving average price is $60.57 and its two-hundred day moving average price is $58.01. The company has a market cap of $111.99 billion, a PE ratio of 18.47, a PEG ratio of 1.66 and a beta of 0.93. The company has a current ratio of 0.40, a quick ratio of 0.52 and a debt-to-equity ratio of 1.78.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, beating the consensus estimate of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 15.09%. The business had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. On average, analysts predict that HDFC Bank will post 2.88 EPS for the current year.

HDFC Bank Increases Dividend

The business also recently announced an annual dividend, which was paid on Wednesday, May 8th. Shareholders of record on Thursday, May 9th were paid a dividend of $0.7008 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a dividend yield of 1%. This is a positive change from HDFC Bank’s previous annual dividend of $0.59. HDFC Bank’s dividend payout ratio (DPR) is 18.40%.

Hedge Funds Weigh In On HDFC Bank

A number of hedge funds have recently modified their holdings of the stock. Frazier Financial Advisors LLC acquired a new position in HDFC Bank in the 4th quarter worth about $29,000. GAMMA Investing LLC acquired a new stake in shares of HDFC Bank in the 4th quarter valued at $33,000. Northwest Investment Counselors LLC acquired a new position in HDFC Bank during the first quarter worth $34,000. Parkside Financial Bank & Trust raised its holdings in HDFC Bank by 89.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock valued at $41,000 after buying an additional 291 shares in the last quarter. Finally, Janiczek Wealth Management LLC acquired a new stake in shares of HDFC Bank in the first quarter worth about $35,000. 17.61% of the stock is owned by institutional investors and hedge funds.

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.