HDFC Bank (NYSE:HDB) Hits New 1-Year Low – Should You Sell?

HDFC Bank Limited (NYSE:HDB)’s stock price reached 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 trading hands. The stock had previously closed at $28.71.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HDB shares. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, HDFC Bank currently has a consensus rating of “Reduce”.

HDFC Bank Price Performance

The stock’s 50 day simple moving average is $32.08 and its two-hundred day simple moving average is $34.44. The stock has a market capitalization of $135.91 billion, a PE ratio of 15.93, a PEG ratio of 1.21 and a beta of 0.56.

Hedge Funds Weigh In On HDFC Bank

Several institutional investors and hedge funds have recently bought and sold shares of the company. Schroder Investment Management Group increased its position in HDFC Bank by 137.6% in the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock worth $861,554,000 after buying an additional 14,606,422 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of HDFC Bank by 104.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock valued at $656,035,000 after buying 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 4th quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock valued at $1,457,865,000 after buying an additional 9,451,992 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of HDFC Bank by 9,866.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock worth $271,381,000 after acquiring an additional 7,864,692 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of HDFC Bank by 106.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after acquiring an additional 7,147,440 shares during the period. 17.61% of the stock is owned by institutional investors.

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).