HDFC Bank (HDB) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of HDFC Bank (NYSE:HDB) from a hold rating to a sell rating in a research note published on Tuesday.

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) opened at $99.51 on Tuesday. HDFC Bank has a one year low of $70.74 and a one year high of $110.77. The firm has a market cap of $86,067.38, a P/E ratio of 37.41, a P/E/G ratio of 1.14 and a beta of 0.91.

A number of institutional investors have recently added to or reduced their stakes in HDB. Clearbridge Investments LLC purchased a new position in HDFC Bank in the 4th quarter valued at approximately $114,000. Tower Research Capital LLC TRC grew its stake in HDFC Bank by 543.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,931 shares of the bank’s stock valued at $197,000 after buying an additional 1,631 shares in the last quarter. Pitcairn Co. purchased a new position in shares of HDFC Bank during the 4th quarter valued at $202,000. Creative Planning purchased a new position in shares of HDFC Bank during the 4th quarter valued at $203,000. Finally, LPL Financial LLC purchased a new position in shares of HDFC Bank during the 4th quarter valued at $208,000. Institutional investors and hedge funds own 17.45% of the company’s stock.

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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.

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