Zacks Investment Research cut shares of HDFC Bank (NYSE:HDB) from a buy rating to a hold rating in a research note published on Wednesday morning.
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 up $0.35 during trading hours on Wednesday, hitting $101.35. 430,027 shares of the stock traded hands, compared to its average volume of 531,856. HDFC Bank has a 52-week low of $62.49 and a 52-week high of $102.77. The company has a market cap of $76,090.00, a PE ratio of 83.07, a PEG ratio of 1.14 and a beta of 0.84.
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HDFC Bank 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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