HDFC Bank Limited (NYSE:HDB) Short Interest Up 14.8% in October

HDFC Bank Limited (NYSE:HDB - Get Free Report) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 18,920,000 shares, a growth of 14.8% from the September 30th total of 16,480,000 shares. Based on an average trading volume of 2,860,000 shares, the short-interest ratio is currently 6.6 days.

Wall Street Analysts Forecast Growth

HDB has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded HDFC Bank from an "overweight" rating to a "neutral" rating in a report on Monday, July 22nd. StockNews.com cut HDFC Bank from a "hold" rating to a "sell" rating in a research report on Saturday, October 12th.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded up $0.15 on Tuesday, hitting $64.65. The company had a trading volume of 1,595,681 shares, compared to its average volume of 3,052,096. The stock has a market cap of $120.24 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 1.65 and a beta of 0.92. The stock has a 50 day moving average price of $62.27 and a 200 day moving average price of $60.52. HDFC Bank has a 1-year low of $52.16 and a 1-year high of $67.44. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norden Group LLC bought a new stake in shares of HDFC Bank during the first quarter worth approximately $511,000. Legacy Wealth Asset Management LLC grew its stake in shares of HDFC Bank by 24.4% in the first quarter. Legacy Wealth Asset Management LLC now owns 35,003 shares of the bank's stock valued at $1,959,000 after acquiring an additional 6,857 shares in the last quarter. Financial Perspectives Inc increased its position in HDFC Bank by 53.1% during the first quarter. Financial Perspectives Inc now owns 2,922 shares of the bank's stock worth $164,000 after acquiring an additional 1,013 shares during the period. New Century Financial Group LLC acquired a new stake in HDFC Bank in the 1st quarter worth about $294,000. Finally, Baillie Gifford & Co. increased its holdings in shares of HDFC Bank by 16.9% during the first quarter. Baillie Gifford & Co. now owns 11,269,525 shares of the bank's stock worth $630,755,000 after purchasing an additional 1,632,542 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

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.