Sanford C. Bernstein cut shares of HDFC Bank (NYSE:HDB) from an outperform rating to a market perform rating in a research note issued to investors on Monday morning, BenzingaRatingsTable reports.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of HDFC Bank from a hold rating to a sell rating in a report on Wednesday, August 28th. Nomura lowered shares of HDFC Bank from a buy rating to a neutral rating and set a $128.63 price target on the stock. in a report on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. HDFC Bank presently has a consensus rating of Hold and an average price target of $136.82.

HDB stock opened at $104.92 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.64. HDFC Bank has a 12 month low of $85.43 and a 12 month high of $131.78. The firm has a market cap of $89.86 billion, a P/E ratio of 31.60, a P/E/G ratio of 1.17 and a beta of 0.45. The company’s 50-day moving average price is $109.91 and its two-hundred day moving average price is $116.23.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, July 20th. The bank reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.03). The company had revenue of $4.65 billion for the quarter. HDFC Bank had a net margin of 17.98% and a return on equity of 13.23%. Equities analysts predict that HDFC Bank will post 3.97 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. Rehmann Capital Advisory Group grew its holdings in shares of HDFC Bank by 9.1% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,313 shares of the bank’s stock valued at $171,000 after purchasing an additional 110 shares during the last quarter. Atria Investments LLC grew its holdings in HDFC Bank by 11.6% during the 2nd quarter. Atria Investments LLC now owns 10,294 shares of the bank’s stock worth $1,134,000 after acquiring an additional 1,074 shares during the last quarter. Natixis grew its holdings in HDFC Bank by 1.2% during the 2nd quarter. Natixis now owns 8,396 shares of the bank’s stock worth $1,092,000 after acquiring an additional 99 shares during the last quarter. Aubrey Capital Management Ltd grew its holdings in HDFC Bank by 25.7% during the 2nd quarter. Aubrey Capital Management Ltd now owns 109,550 shares of the bank’s stock worth $14,246,000 after acquiring an additional 22,410 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. bought a new stake in HDFC Bank during the 2nd quarter worth approximately $215,000. 19.37% 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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