Zacks Investment Research upgraded shares of HDFC Bank Limited (NYSE:HDB) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $81.00 target price on the stock.

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 lowered shares of HDFC Bank Limited from a buy rating to a neutral rating in a report on Monday, January 30th.

Shares of HDFC Bank Limited (NYSE:HDB) traded up 0.95% on Tuesday, hitting $73.64. 52,258 shares of the stock were exchanged. The company has a market cap of $374.92 billion, a PE ratio of 183.41 and a beta of 1.14. The company has a 50-day moving average price of $71.39 and a 200 day moving average price of $68.55. HDFC Bank Limited has a 12 month low of $57.55 and a 12 month high of $74.04.

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Several hedge funds have recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of HDFC Bank Limited during the fourth quarter valued at approximately $32,989,000. Capital Guardian Trust Co. boosted its position in HDFC Bank Limited by 3.2% in the fourth quarter. Capital Guardian Trust Co. now owns 1,101,357 shares of the company’s stock valued at $66,830,000 after buying an additional 34,032 shares in the last quarter. Capital International Ltd. CA boosted its position in HDFC Bank Limited by 19.0% in the fourth quarter. Capital International Ltd. CA now owns 22,500 shares of the company’s stock valued at $1,365,000 after buying an additional 3,600 shares in the last quarter. Guggenheim Capital LLC boosted its position in HDFC Bank Limited by 22.0% in the fourth quarter. Guggenheim Capital LLC now owns 48,950 shares of the company’s stock valued at $2,970,000 after buying an additional 8,828 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in HDFC Bank Limited during the fourth quarter valued at about $1,869,000. 18.16% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Limited Company Profile

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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