HDFC Bank Limited (NYSE:HDB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

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. “

HDB has been the subject of a number of other reports. Morgan Stanley raised shares of HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 25th. BidaskClub cut shares of HDFC Bank Limited from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Jefferies Group LLC raised shares of HDFC Bank Limited from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. HDFC Bank Limited presently has an average rating of “Buy” and a consensus target price of $103.00.

HDFC Bank Limited (NYSE:HDB) traded up 0.43% during trading on Tuesday, reaching $95.64. 565,074 shares of the company traded hands. HDFC Bank Limited has a 12 month low of $59.00 and a 12 month high of $99.77. The company’s 50-day moving average is $92.63 and its 200 day moving average is $82.07. The company has a market cap of $490.16 billion, a PE ratio of 207.46 and a beta of 0.87.

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Large investors have recently bought and sold shares of the company. Verition Fund Management LLC purchased a new stake in HDFC Bank Limited during the second quarter worth $923,000. Coldstream Capital Management Inc. purchased a new stake in HDFC Bank Limited during the second quarter worth $466,000. Bluefin Trading LLC purchased a new stake in HDFC Bank Limited during the second quarter worth $1,365,000. Maverick Capital Ltd. purchased a new stake in HDFC Bank Limited during the second quarter worth $2,385,000. Finally, Janus Henderson Group PLC increased its stake in HDFC Bank Limited by 807.5% in the second quarter. Janus Henderson Group PLC now owns 115,057 shares of the bank’s stock worth $10,006,000 after buying an additional 102,379 shares in the last quarter. 18.72% of the stock is owned by 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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