HDFC Bank (NYSE:HDB) Sets New 12-Month High - Here's What Happened

HDFC Bank Limited (NYSE:HDB - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $70.13 and last traded at $69.54, with a volume of 1176790 shares traded. The stock had previously closed at $67.38.

Analysts Set New Price Targets

A number of research firms have commented on HDB. Nomura upgraded HDFC Bank from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Nomura Securities upgraded shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd.

HDFC Bank Stock Up 4.2 %

The firm has a market capitalization of $182.80 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The business has a fifty day moving average price of $63.27 and a two-hundred day moving average price of $63.01.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. On average, equities analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Institutional Trading of HDFC Bank

Several hedge funds and other institutional investors have recently bought and sold shares of HDB. GAMMA Investing LLC grew its stake in shares of HDFC Bank by 6.8% during the 1st quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock worth $159,000 after purchasing an additional 153 shares during the period. Waverton Investment Management Ltd grew its position in HDFC Bank by 1.0% during the fourth quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank's stock valued at $1,275,000 after buying an additional 203 shares during the period. Brown Brothers Harriman & Co. increased its holdings in HDFC Bank by 63.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock valued at $39,000 after buying an additional 240 shares in the last quarter. Level Four Advisory Services LLC raised its position in shares of HDFC Bank by 3.6% in the fourth quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank's stock worth $438,000 after acquiring an additional 241 shares during the period. Finally, Portside Wealth Group LLC boosted its stake in shares of HDFC Bank by 2.7% during the 1st quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock worth $599,000 after acquiring an additional 241 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Company Profile

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.