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

HDFC Bank (NYSE:HDB) 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

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.