HDFC Bank (HDB) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of HDFC Bank (NYSE:HDB) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “HDFC BANK’s mission is to be a World Class Indian Bank. The Bank’s aim is to build a sound customer franchise across distinct businesses so as to be the preferred provider of banking services in the niche segments that the bank operates in and to achieve healthy growth in profitability, consistent with the bank’s risk appetite. The bank aims to ensure the highest level of ethical standards, professional integrity and regulatory compliance. HDFC Bank’s business philosophy is based on four core values: Operational Excellence, Customer Focus, Product Leadership and People. “

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HDB stock opened at $96.01 on Wednesday. HDFC Bank has a 52-week low of $72.03 and a 52-week high of $110.77. The company has a market capitalization of $83,445.84, a PE ratio of 32.84, a PEG ratio of 1.09 and a beta of 1.00.

Several institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in shares of HDFC Bank by 107.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 155,771 shares of the bank’s stock valued at $15,838,000 after acquiring an additional 80,817 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA lifted its position in shares of HDFC Bank by 19.6% in the fourth quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 3,200 shares of the bank’s stock valued at $325,000 after acquiring an additional 525 shares in the last quarter. BB&T Securities LLC lifted its position in shares of HDFC Bank by 3.7% in the fourth quarter. BB&T Securities LLC now owns 22,463 shares of the bank’s stock valued at $2,283,000 after acquiring an additional 801 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of HDFC Bank by 455.1% in the fourth quarter. Macquarie Group Ltd. now owns 48,250 shares of the bank’s stock valued at $4,902,000 after acquiring an additional 39,558 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in shares of HDFC Bank in the fourth quarter valued at about $208,000. Institutional investors and hedge funds own 17.25% of the company’s stock.

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About HDFC Bank

HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.

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