HDFC Bank (NYSE:HDB) Shares Gap Down - What's Next?

HDFC Bank Limited (NYSE:HDB - Get Free Report)'s share price 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 traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut HDFC Bank from a "hold" rating to a "sell" rating in a research report on Wednesday, November 27th.

HDFC Bank Trading Down 2.4 %

The company has a market cap of $158.37 billion, a PE ratio of 19.01, a PEG ratio of 1.78 and a beta of 0.92. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The company has a 50 day simple moving average of $64.90 and a two-hundred day simple moving average of $62.85.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data 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. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. Sell-side analysts forecast that HDFC Bank Limited will post 3.15 EPS for the current year.

Institutional Investors Weigh In On HDFC Bank

Several institutional investors have recently made changes to their positions in the company. Citigroup Inc. lifted its stake in HDFC Bank by 21.1% in the third quarter. Citigroup Inc. now owns 1,143,853 shares of the bank's stock valued at $71,559,000 after acquiring an additional 199,582 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of HDFC Bank by 60.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank's stock valued at $19,830,000 after purchasing an additional 119,050 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its stake in shares of HDFC Bank by 34.7% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 137,015 shares of the bank's stock valued at $8,572,000 after purchasing an additional 35,291 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of HDFC Bank by 13.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank's stock valued at $15,114,000 after purchasing an additional 28,500 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its holdings in HDFC Bank by 42.2% in the third quarter. Northwest & Ethical Investments L.P. now owns 34,100 shares of the bank's stock worth $2,133,000 after purchasing an additional 10,127 shares in the last quarter. 17.61% of the stock is currently 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.