HDFC Bank Limited (NYSE:HDB) Sees Significant Increase in Short Interest

HDFC Bank Limited (NYSE:HDB - Get Free Report) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 19,210,000 shares, a growth of 28.1% from the February 13th total of 15,000,000 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 2,570,000 shares, the days-to-cover ratio is currently 7.5 days.

Analyst Upgrades and Downgrades

HDB has been the subject of several research reports. StockNews.com cut HDFC Bank from a "hold" rating to a "sell" rating in a research report on Wednesday, November 27th. Nomura Securities upgraded HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. Finally, Nomura upgraded HDFC Bank from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd.

HDFC Bank Trading Up 0.9 %

Shares of HDFC Bank stock traded up $0.61 during trading hours on Friday, hitting $64.33. The company's stock had a trading volume of 954,641 shares, compared to its average volume of 2,509,004. HDFC Bank has a twelve month low of $54.07 and a twelve month high of $68.50. The firm has a fifty day moving average of $60.14 and a 200-day moving average of $62.45. The stock has a market cap of $162.89 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 2.12 and a beta of 0.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09.

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HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Research analysts forecast that HDFC Bank will post 3.03 EPS for the current year.

Hedge Funds Weigh In On HDFC Bank

Several large investors have recently modified their holdings of HDB. FIL Ltd lifted its stake in HDFC Bank by 17.5% during the 4th quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock worth $1,115,451,000 after acquiring an additional 2,599,337 shares in the last quarter. Temasek Holdings Private Ltd lifted its stake in HDFC Bank by 2.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank's stock worth $546,500,000 after acquiring an additional 190,566 shares in the last quarter. GQG Partners LLC lifted its stake in HDFC Bank by 74.4% during the 4th quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock worth $503,431,000 after acquiring an additional 3,364,114 shares in the last quarter. FMR LLC lifted its stake in HDFC Bank by 13.3% during the 4th quarter. FMR LLC now owns 7,793,113 shares of the bank's stock worth $497,668,000 after acquiring an additional 914,289 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in HDFC Bank by 43.0% during the 4th quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock worth $466,629,000 after acquiring an additional 2,196,315 shares in the last quarter. 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.