HDFC Bank (NYSE:HDB) Raised to Hold at StockNews.com

HDFC Bank (NYSE:HDBGet Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

HDFC Bank Stock Performance

HDFC Bank stock traded up $0.18 during mid-day trading on Friday, hitting $55.51. The company had a trading volume of 2,313,252 shares, compared to its average volume of 2,588,873. The company has a current ratio of 0.40, a quick ratio of 0.52 and a debt-to-equity ratio of 1.78. HDFC Bank has a 12-month low of $52.16 and a 12-month high of $71.39. The company’s fifty day moving average is $56.84 and its 200-day moving average is $58.52. The company has a market capitalization of $103.24 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 1.09 and a beta of 0.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HDB. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of HDFC Bank during the 3rd quarter valued at approximately $27,000. NBC Securities Inc. purchased a new position in shares of HDFC Bank during the 3rd quarter valued at approximately $29,000. Frazier Financial Advisors LLC purchased a new position in shares of HDFC Bank during the 4th quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new position in shares of HDFC Bank during the 4th quarter valued at approximately $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in HDFC Bank in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Company Profile

(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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