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

StockNews.com cut shares of HDFC Bank (NYSE:HDB) from a hold rating to a sell rating in a research report sent to investors on Monday.

HDFC Bank Stock Down 1.3 %

HDFC Bank stock opened at $58.29 on Monday. The company has a quick ratio of 0.52, a current 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 firm’s fifty day moving average is $55.79 and its 200 day moving average is $58.58. The company has a market capitalization of $108.41 billion, a PE ratio of 17.99, a PEG ratio of 1.46 and a beta of 0.87.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. lifted its position in shares of HDFC Bank by 0.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 22,404 shares of the bank’s stock valued at $1,504,000 after acquiring an additional 183 shares during the period. Endowment Wealth Management Inc. raised its holdings in HDFC Bank by 4.6% during the fourth quarter. Endowment Wealth Management Inc. now owns 4,166 shares of the bank’s stock worth $280,000 after buying an additional 184 shares during the last quarter. FinTrust Capital Advisors LLC raised its holdings in HDFC Bank by 36.4% during the third quarter. FinTrust Capital Advisors LLC now owns 693 shares of the bank’s stock worth $41,000 after buying an additional 185 shares during the last quarter. Private Advisor Group LLC raised its holdings in HDFC Bank by 2.3% during the fourth quarter. Private Advisor Group LLC now owns 9,853 shares of the bank’s stock worth $661,000 after buying an additional 218 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in HDFC Bank by 3.9% during the third quarter. Commonwealth Equity Services LLC now owns 6,556 shares of the bank’s stock worth $387,000 after buying an additional 245 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Company Profile

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.