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

HDFC Bank Limited (NYSE:HDB) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 17,360,000 shares, a drop of 10.1% from the November 15th total of 19,300,000 shares. Based on an average daily trading volume, of 2,740,000 shares, the days-to-cover ratio is currently 6.3 days.

HDFC Bank Trading Down 1.8 %

Shares of HDFC Bank stock traded down $1.17 on Tuesday, hitting $65.52. The stock had a trading volume of 3,090,158 shares, compared to its average volume of 3,005,570. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank has a one year low of $52.16 and a one year high of $68.50. The stock’s 50-day simple moving average is $64.29 and its two-hundred day simple moving average is $62.46. The stock has a market cap of $165.92 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.79 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The company had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. As a group, sell-side analysts predict that HDFC Bank will post 3.15 EPS for the current year.

Hedge Funds Weigh In On HDFC Bank

A number of institutional investors have recently bought and sold shares of HDB. Vanguard Group Inc. boosted its holdings in shares of HDFC Bank by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 122,023 shares of the bank’s stock valued at $6,830,000 after buying an additional 12,037 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in HDFC Bank by 25.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,272,932 shares of the bank’s stock worth $81,888,000 after purchasing an additional 259,587 shares during the period. Raymond James & Associates increased its stake in shares of HDFC Bank by 17.5% during the second quarter. Raymond James & Associates now owns 573,144 shares of the bank’s stock valued at $36,870,000 after purchasing an additional 85,279 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of HDFC Bank by 7.3% during the second quarter. Nisa Investment Advisors LLC now owns 211,913 shares of the bank’s stock valued at $13,632,000 after purchasing an additional 14,500 shares during the last quarter. Finally, LRI Investments LLC boosted its position in shares of HDFC Bank by 124.3% in the 2nd quarter. LRI Investments LLC now owns 2,243 shares of the bank’s stock worth $144,000 after purchasing an additional 1,243 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

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.