HDFC Bank (NYSE:HDB) Shares Gap Down – Here’s What Happened

Shares of HDFC Bank Limited (NYSE:HDB) gapped down prior to trading on Friday . The stock had previously closed at $64.06, but opened at $62.66. HDFC Bank shares last traded at $62.37, with a volume of 242,203 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

HDFC Bank Trading Down 2.3 %

The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $158.47 billion, a PE ratio of 19.02, a P/E/G ratio of 1.78 and a beta of 0.92. The stock has a 50 day moving average price of $64.90 and a 200-day moving average price of $62.85.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.09. The business had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. Sell-side analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current year.

Institutional Trading of HDFC Bank

Large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in HDFC Bank by 2,092.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,418,328 shares of the bank’s stock worth $213,851,000 after acquiring an additional 3,262,442 shares during the period. TPG GP A LLC purchased a new stake in shares of HDFC Bank in the 2nd quarter worth $95,637,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in HDFC Bank by 130.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,185,500 shares of the bank’s stock worth $140,593,000 after purchasing an additional 1,236,100 shares during the period. FMR LLC raised its holdings in HDFC Bank by 19.3% in the 3rd quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock worth $430,339,000 after purchasing an additional 1,114,210 shares during the period. Finally, Eminence Capital LP purchased a new position in HDFC Bank during the second quarter valued at $68,340,000. 17.61% of the stock is currently owned by institutional investors.

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.