HDFC Bank (NYSE:HDB - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Monday.
HDFC Bank Stock Performance
NYSE HDB traded down $0.76 during trading hours on Monday, hitting $58.29. 3,977,731 shares of the company's stock traded hands, compared to its average volume of 3,642,041. HDFC Bank has a 52 week low of $52.16 and a 52 week high of $71.39. The firm has a market capitalization of $108.41 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.46 and a beta of 0.87. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.78. The business's fifty day moving average price is $55.79 and its two-hundred day moving average price is $58.58.
Institutional Investors Weigh In On HDFC Bank
Several hedge funds and other institutional investors have recently modified their holdings of HDB. Skandinaviska Enskilda Banken AB publ bought a new stake in HDFC Bank during the third quarter valued at about $27,000. NBC Securities Inc. purchased a new position in shares of HDFC Bank during the 3rd quarter valued at about $29,000. Frazier Financial Advisors LLC bought a new position in shares of HDFC Bank during the 4th quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new stake in HDFC Bank in the 4th quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in HDFC Bank in the 1st quarter worth approximately $34,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.
About HDFC Bank
(
Get Free Report)
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.
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