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

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

HDFC Bank Trading Down 0.9%

Shares of HDFC Bank stock opened at $32.35 on Wednesday. The stock’s fifty day moving average price is $35.42 and its 200-day moving average price is $36.10. The firm has a market cap of $165.03 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.32 and a beta of 0.57. HDFC Bank has a 12 month low of $29.04 and a 12 month high of $39.81.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, HDFC Bank currently has an average rating of “Moderate Buy”.

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).