HDFC Bank (NYSE:HDB) Rating 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 morning.

HDFC Bank Stock Up 0.1 %

HDB stock opened at $58.33 on Monday. The company’s 50 day moving average price is $56.10 and its 200 day moving average price is $58.57. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40. HDFC Bank has a fifty-two week low of $52.16 and a fifty-two week high of $71.39. The firm has a market capitalization of $108.49 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.09 and a beta of 0.87.

Institutional Trading of HDFC Bank

A number of large investors have recently made changes to their positions in HDB. Morgan Stanley boosted its holdings in HDFC Bank by 5.1% in the third quarter. Morgan Stanley now owns 14,886,302 shares of the bank’s stock valued at $878,441,000 after purchasing an additional 723,106 shares in the last quarter. FIL Ltd boosted its holdings in HDFC Bank by 10.8% in the fourth quarter. FIL Ltd now owns 13,594,291 shares of the bank’s stock valued at $912,313,000 after purchasing an additional 1,326,574 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in HDFC Bank by 0.8% in the fourth quarter. Baillie Gifford & Co. now owns 9,636,983 shares of the bank’s stock valued at $646,738,000 after purchasing an additional 76,505 shares in the last quarter. Harding Loevner LP boosted its holdings in HDFC Bank by 31.7% in the fourth quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after purchasing an additional 2,276,203 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in HDFC Bank by 4.9% in the third quarter. Ameriprise Financial Inc. now owns 8,772,331 shares of the bank’s stock valued at $516,561,000 after purchasing an additional 410,884 shares in the last quarter. 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.