HDFC Bank (NYSE:HDB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
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 HDFC Bank (NYSE HDB) traded down $0.22 during mid-day trading on Thursday, reaching $101.12. The company had a trading volume of 411,100 shares, compared to its average volume of 443,600. HDFC Bank has a 1 year low of $59.22 and a 1 year high of $102.77. The stock has a market cap of $75,460.00, a P/E ratio of 82.21, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84.
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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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