HDFC Bank (NYSE:HDB) Cut to Sell at StockNews.com

StockNews.com cut shares of HDFC Bank (NYSE:HDB) from a hold rating to a sell rating in a report released on Monday morning.

HDFC Bank Stock Performance

HDB stock opened at $58.25 on Monday. The company has a market capitalization of $108.34 billion, a P/E ratio of 17.87, a PEG ratio of 1.45 and a beta of 0.87. The company has a 50-day simple moving average of $56.02 and a 200 day simple moving average of $58.57. HDFC Bank has a fifty-two week low of $52.16 and a fifty-two week high of $71.39. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.78.

Institutional Investors Weigh In On HDFC Bank

A number of institutional investors and hedge funds have recently bought and sold shares of HDB. Naples Global Advisors LLC lifted its holdings in HDFC Bank by 72.5% in the 3rd quarter. Naples Global Advisors LLC now owns 11,799 shares of the bank’s stock valued at $696,000 after acquiring an additional 4,960 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in HDFC Bank by 22.8% in the 3rd quarter. DAVENPORT & Co LLC now owns 22,339 shares of the bank’s stock valued at $1,318,000 after acquiring an additional 4,151 shares during the last quarter. Park Place Capital Corp lifted its stake in HDFC Bank by 84.9% during the third quarter. Park Place Capital Corp now owns 867 shares of the bank’s stock valued at $51,000 after buying an additional 398 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its stake in HDFC Bank by 14.4% during the third quarter. Schwartz Investment Counsel Inc. now owns 45,350 shares of the bank’s stock valued at $2,676,000 after buying an additional 5,700 shares in the last quarter. Finally, Caprock Group LLC lifted its stake in HDFC Bank by 246.4% during the third quarter. Caprock Group LLC now owns 11,549 shares of the bank’s stock valued at $682,000 after buying an additional 8,215 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

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.