HDFC Bank (HDB) Downgraded by Zacks Investment Research

HDFC Bank (NYSE:HDB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “HDFC BANK’s mission is to be a World Class Indian Bank. The Bank’s aim is to build a sound customer franchise across distinct businesses so as to be the preferred provider of banking services in the niche segments that the bank operates in and to achieve healthy growth in profitability, consistent with the bank’s risk appetite. The bank aims to ensure the highest level of ethical standards, professional integrity and regulatory compliance. HDFC Bank’s business philosophy is based on four core values: Operational Excellence, Customer Focus, Product Leadership and People. “

HDFC Bank (NYSE:HDB) traded down $0.22 during mid-day trading on Thursday, hitting $101.12. 411,100 shares of the stock traded hands, compared to its average volume of 443,600. HDFC Bank has a 1 year low of $59.22 and a 1 year high of $102.77. The stock has a market capitalization of $75,460.00, a P/E ratio of 82.21, a PEG ratio of 1.16 and a beta of 0.84.

Several hedge funds have recently added to or reduced their stakes in HDB. Pacad Investment Ltd. purchased a new position in shares of HDFC Bank in the second quarter worth $226,000. Fiduciary Trust Co. purchased a new position in shares of HDFC Bank in the second quarter worth $321,000. Private Advisor Group LLC lifted its holdings in shares of HDFC Bank by 31.5% in the second quarter. Private Advisor Group LLC now owns 6,650 shares of the bank’s stock worth $579,000 after buying an additional 1,594 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of HDFC Bank by 5.8% in the second quarter. Commonwealth Bank of Australia now owns 1,785,626 shares of the bank’s stock worth $155,294,000 after buying an additional 97,637 shares in the last quarter. Finally, Charles Lim Capital Ltd lifted its holdings in shares of HDFC Bank by 26.8% in the second quarter. Charles Lim Capital Ltd now owns 1,171,639 shares of the bank’s stock worth $101,897,000 after buying an additional 247,501 shares in the last quarter. 17.29% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “HDFC Bank (HDB) Downgraded by Zacks Investment Research” was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this story on another publication, it was copied illegally and republished in violation of US & international trademark and copyright legislation. The original version of this story can be viewed at https://sportsperspectives.com/2018/01/04/hdfc-bank-hdb-downgraded-by-zacks-investment-research.html.

About HDFC Bank

HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.

Receive News & Ratings for HDFC Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HDFC Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply