HDFC Bank (NYSE:HDB) Downgraded to “Sell” at StockNews.com

HDFC Bank (NYSE:HDB) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

HDFC Bank Stock Up 0.2 %

Shares of HDFC Bank stock opened at $58.43 on Monday. HDFC Bank has a 12-month low of $52.16 and a 12-month high of $71.39. The company has a market cap of $108.67 billion, a P/E ratio of 18.03, a PEG 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 company’s fifty day simple moving average is $55.91 and its two-hundred day simple moving average is $58.57.

Institutional Trading of HDFC Bank

Hedge funds have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of HDFC Bank during the 3rd quarter valued at $27,000. NBC Securities Inc. bought a new stake in shares of HDFC Bank during the 3rd quarter valued at $29,000. Frazier Financial Advisors LLC bought a new stake in shares of HDFC Bank during the 4th quarter valued at $29,000. GAMMA Investing LLC bought a new position in HDFC Bank in the 4th quarter worth about $33,000. Finally, Northwest Investment Counselors LLC bought a new position in HDFC Bank in the 1st quarter worth about $34,000. Institutional investors own 17.61% of the company’s stock.

About HDFC Bank

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.