Equities Analysts Issue Forecasts for HDFC Bank Limited’s FY2019 Earnings (HDB)

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HDFC Bank Limited (NYSE:HDB) – Analysts at Jefferies Financial Group increased their FY2019 earnings per share estimates for HDFC Bank in a research report issued on Sunday, January 20th. Jefferies Financial Group analyst N. Karfa now forecasts that the bank will post earnings per share of $3.36 for the year, up from their prior forecast of $3.32. Jefferies Financial Group also issued estimates for HDFC Bank’s FY2020 earnings at $4.32 EPS and FY2021 earnings at $5.36 EPS.

Several other brokerages have also issued reports on HDB. TheStreet raised shares of HDFC Bank from a “c+” rating to a “b-” rating in a report on Monday, December 31st. Zacks Investment Research raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, November 30th. Finally, ValuEngine lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd.

Shares of HDB stock opened at $100.37 on Wednesday. The company has a market cap of $89.02 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80. HDFC Bank has a 52-week low of $85.43 and a 52-week high of $112.10.

A number of hedge funds have recently modified their holdings of HDB. Renaissance Technologies LLC increased its holdings in HDFC Bank by 96.8% during the second quarter. Renaissance Technologies LLC now owns 18,500 shares of the bank’s stock valued at $1,943,000 after buying an additional 9,100 shares during the period. Millennium Management LLC increased its holdings in HDFC Bank by 58.0% during the second quarter. Millennium Management LLC now owns 5,973 shares of the bank’s stock valued at $627,000 after buying an additional 2,192 shares during the period. Advisors Asset Management Inc. increased its holdings in HDFC Bank by 26.2% during the second quarter. Advisors Asset Management Inc. now owns 11,176 shares of the bank’s stock valued at $1,174,000 after buying an additional 2,322 shares during the period. Northern Trust Corp increased its holdings in HDFC Bank by 6.0% during the second quarter. Northern Trust Corp now owns 966,366 shares of the bank’s stock valued at $101,487,000 after buying an additional 54,829 shares during the period. Finally, EFG Asset Management Americas Corp. increased its holdings in HDFC Bank by 23.3% during the third quarter. EFG Asset Management Americas Corp. now owns 4,089 shares of the bank’s stock valued at $385,000 after buying an additional 772 shares during the period. 18.83% of the stock is currently owned by institutional investors.

About HDFC Bank

HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.

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Earnings History and Estimates for HDFC Bank (NYSE:HDB)

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