The banking industry closed the day down 0.8%. Guaranty Federal Bancshares Inc (GFED), Waccamaw Bankshares Inc (WBNK), FNB NC Corporation (FNBN), and Dearborn Bancorp Inc (DEAR) were all winners today within the banking industry with HDFC Bank (HDB) being today's featured banking winner. HDFC Bank rose 27 cents (0.8%) to $32.06 on average volume. Throughout the day, 1.4 million shares of HDFC Bank exchanged hands as compared to its average daily volume of 1.1 million shares. HDFC Bank Limited provides banking and financial services to individuals and businesses in India. The company offers savings, current, and demat accounts, as well as accepts fixed and recurring deposits. HDFC Bank has a market cap of $24.2 billion and is part of the financial sector. The company has a P/E ratio of 26.6, above the average banking industry P/E ratio of 26.4 and above the S&P 500 P/E ratio of 17.7. Shares are down 4.9% year to date as of the close of trading on Tuesday. TheStreet Ratings rates HDFC as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.
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