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

StockNews.com downgraded shares of HDFC Bank (NYSE:HDB) from a hold rating to a sell rating in a research report report published on Monday morning.

HDFC Bank Stock Performance

Shares of HDB stock opened at $58.33 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.40 and a quick ratio of 0.52. HDFC Bank has a fifty-two week low of $52.16 and a fifty-two week high of $71.39. The stock’s 50-day moving average is $56.10 and its two-hundred day moving average is $58.57. The firm has a market cap of $108.49 billion, a P/E ratio of 17.89, a PEG ratio of 1.09 and a beta of 0.87.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of HDFC Bank by 51.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,457,211 shares of the bank’s stock worth $145,000,000 after acquiring an additional 836,449 shares in the last quarter. Northern Trust Corp boosted its stake in shares of HDFC Bank by 13.1% during the 3rd quarter. Northern Trust Corp now owns 385,864 shares of the bank’s stock worth $22,770,000 after acquiring an additional 44,648 shares in the last quarter. Martin Currie Ltd. boosted its stake in shares of HDFC Bank by 1.7% during the 3rd quarter. Martin Currie Ltd. now owns 3,401,986 shares of the bank’s stock worth $200,751,000 after acquiring an additional 57,055 shares in the last quarter. Citigroup Inc. boosted its stake in shares of HDFC Bank by 1,193.0% during the 3rd quarter. Citigroup Inc. now owns 749,586 shares of the bank’s stock worth $44,233,000 after acquiring an additional 691,615 shares in the last quarter. Finally, Manning & Napier Group LLC boosted its stake in shares of HDFC Bank by 14.0% during the 3rd quarter. Manning & Napier Group LLC now owns 733,596 shares of the bank’s stock worth $43,290,000 after acquiring an additional 90,357 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

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.