HDFC Bank (NYSE:HDB) Hits New 12-Month High – Should You Buy?

HDFC Bank Limited (NYSE:HDB)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $67.48 and last traded at $67.41, with a volume of 796931 shares. The stock had previously closed at $66.65.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday.

HDFC Bank Stock Up 1.3 %

The firm has a market cap of $170.93 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 1.78 and a beta of 0.91. The firm’s fifty day moving average is $63.32 and its two-hundred day moving average is $61.45. 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 data on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate 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 net margin of 14.48% and a return on equity of 12.49%. On average, sell-side analysts expect that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On HDFC Bank

Institutional investors and hedge funds have recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. lifted its holdings in HDFC Bank by 104.1% in the 3rd 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 acquired a new stake in HDFC Bank in the 2nd quarter valued at about $36,000. Northwest Investment Counselors LLC acquired a new stake in HDFC Bank in the 3rd quarter valued at about $38,000. JFS Wealth Advisors LLC lifted its holdings in HDFC Bank by 70.2% in the 3rd 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, LRI Investments LLC acquired a new stake in HDFC Bank in the 1st quarter valued at about $56,000. 17.61% of the stock is owned by institutional investors and hedge funds.

About HDFC Bank

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.