HDFC Bank (HDB) Upgraded to “Hold” by 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 published on Wednesday, reports.

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. “

Shares of HDB opened at $116.90 on Wednesday. HDFC Bank has a 12-month low of $85.43 and a 12-month high of $120.64. The firm has a market cap of $100.69 billion, a P/E ratio of 37.59, a PEG ratio of 1.11 and a beta of 0.57.

Hedge funds have recently bought and sold shares of the business. Ruggie Capital Group bought a new stake in HDFC Bank in the fourth quarter valued at $25,000. Lindbrook Capital LLC bought a new stake in HDFC Bank in the fourth quarter valued at $26,000. Enlightenment Research LLC bought a new stake in HDFC Bank in the fourth quarter valued at $31,000. American Beacon Advisors Inc. lifted its stake in HDFC Bank by 67.8% in the first quarter. American Beacon Advisors Inc. now owns 292 shares of the bank’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Finally, We Are One Seven LLC bought a new stake in HDFC Bank in the fourth quarter valued at $50,000. Institutional investors own 19.06% of the company’s stock.

HDFC Bank Company Profile

HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.

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