Sat Oct 05 03:17:46 UTC 2024: ## HDFC Bank Receives Mixed Signals from Analysts: Hold or Neutral?

**Mumbai, India – October 4, 2024** – HDFC Bank (NYSE:HDB), a leading Indian financial services provider, has received a mixed bag of ratings from analysts in recent weeks.

While **StockNews.com** upgraded the bank’s rating from “sell” to “hold” on Friday, **JPMorgan Chase & Co.** downgraded HDFC Bank from “overweight” to “neutral” on July 22nd.

The mixed signals come after HDFC Bank reported strong second-quarter earnings on July 22nd, exceeding analysts’ expectations with earnings per share of $0.78, compared to the consensus estimate of $0.51. The bank also reported a net margin of 14.69% and a return on equity of 12.64%.

Analysts expect HDFC Bank to post 2.97 earnings per share for the current year.

Meanwhile, institutional investors have continued to show interest in the bank. **FIL Ltd**, **Baillie Gifford & Co**, **Harding Loevner LP**, **Sustainable Growth Advisers LP**, and **Massachusetts Financial Services Co. MA** all increased their holdings in HDFC Bank during recent quarters. Institutional investors and hedge funds now own 17.61% of the company’s stock.

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.

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