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. “
Separately, Nomura cut HDFC Bank from a buy rating to a neutral rating and set a $128.63 target price for the company. in a report on Tuesday.
Several large investors have recently modified their holdings of the company. Clearbridge Investments LLC grew its holdings in shares of HDFC Bank by 22.1% during the 1st quarter. Clearbridge Investments LLC now owns 377,155 shares of the bank’s stock worth $43,716,000 after purchasing an additional 68,182 shares during the period. GYL Financial Synergies LLC purchased a new stake in shares of HDFC Bank during the 1st quarter worth about $483,000. FMR LLC grew its holdings in shares of HDFC Bank by 4.1% during the 1st quarter. FMR LLC now owns 13,850,960 shares of the bank’s stock worth $1,605,465,000 after purchasing an additional 546,766 shares during the period. Covenant Partners LLC purchased a new stake in shares of HDFC Bank during the 1st quarter worth about $1,044,000. Finally, HighTower Advisors LLC grew its holdings in shares of HDFC Bank by 2.8% during the 1st quarter. HighTower Advisors LLC now owns 51,195 shares of the bank’s stock worth $5,935,000 after purchasing an additional 1,373 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.
About HDFC Bank
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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