HDFC Bank Ltd.
) touched a new 52-week high of $50.11 on Aug 18. The stock closed
the session at $49.92, reflecting a solid year-to-date return of
48.9%. The trading volume for the session was 443,225 shares. The
long-term expected earnings per share growth rate for this foreign
bank presently stands at 30.0%
Strong first-quarter fiscal 2015 results, including the bank's
successful efforts to expand its branch network, drove its stock
price to the new high.
On Jul 21, HDFC Bank reported first-quarter fiscal 2015 results.
Net profit of INR22.33 billion ($0.37 billion) was up 21.1% year
Results benefited from an increase in net interest income which
was, however, offset by a fall in non-interest revenues and rise in
operating expenses. Deposits and loan balances witnessed strong
growth during the quarter, mainly driven by the initiatives of the
bank to expand its branch network. While Capital quality was
healthy, asset quality represented a mixed bag.
HDFC Bank currently carries a Zacks Rank #4 (Sell). Other stocks
that are worth considering in this space include Banco do Brasil
), KB Financial Group, Inc. (
) and Shinhan Financial Group Company Ltd. (
). All these stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
HDFC BANK LTD (HDB): Free Stock Analysis Report
BANCO DO BRASIL (BDORY): Get Free Report
SHINHAN FIN-ADR (SHG): Get Free Report
KB FINL GRP-ADR (KB): Get Free Report
To read this article on Zacks.com click here.