HDFC Bank Hits a New 52-Week High on Strong Q1 2015 Results - Analyst Blog

By Zacks Equity Research,

Shutterstock photo

Shares of HDFC Bank Ltd. ( HDB ) 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 over 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 S.A. ( BDORY ), KB Financial Group, Inc. ( KB ) and Shinhan Financial Group Company Ltd. ( SHG ). 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


SHINHAN FIN-ADR (SHG): Get Free Report

KB FINL GRP-ADR (KB): Get Free Report

To read this article on click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Business , Stocks
Referenced Stocks: HDB , BDORY , SHG , KB

More from


Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by