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

HDFC Bank (NYSE:HDB) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

HDFC Bank Trading Down 1.3 %

Shares of NYSE HDB traded down $0.76 during trading on Monday, hitting $58.29. 3,977,731 shares of the company were exchanged, compared to its average volume of 3,642,041. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.52. The company has a fifty day moving average price of $55.79 and a 200-day moving average price of $58.58. HDFC Bank has a 12-month low of $52.16 and a 12-month high of $71.39. The firm has a market capitalization of $108.41 billion, a PE ratio of 17.99, a P/E/G ratio of 1.46 and a beta of 0.87.

Institutional Trading of HDFC Bank

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 HDFC Bank in the third quarter worth approximately $27,000. NBC Securities Inc. purchased a new position in shares of HDFC Bank during the 3rd quarter worth $29,000. Frazier Financial Advisors LLC purchased a new position in shares of HDFC Bank during the 4th quarter worth $29,000. GAMMA Investing LLC acquired a new stake in shares of HDFC Bank during the 4th quarter worth about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in HDFC Bank in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

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.