HDFC Bank (HDB) pushed the Financial sector lower today making it today's featured Financial loser. The sector as a whole closed the day up 0.3%. By the end of trading, HDFC Bank fell 28 cents (-1%) to $28.51 on average volume. Throughout the day, one million shares of HDFC Bank exchanged hands as compared to its average daily volume of 1.1 million shares. The stock ranged in price between $28.11-$28.63 after having opened the day at $28.48 as compared to the previous trading day's close of $28.79. Other company's within the Financial sector that declined today were: Mercantile Bancorp (MBR), down 29.3%, Bank of the Carolinas (BCAR), down 23.8%, Central Federal (CFBK), down 18%, and Bank VA Chesterfield (BOVA), down 17.7%. 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 $22.38 billion and is part of the banking industry. The company has a P/E ratio of 24.7, above the average banking industry P/E ratio of 22.1 and above the S&P 500 P/E ratio of 17.7. Shares are down 13.9% year to date as of the close of trading on Tuesday. Currently there is one analyst that rates HDFC Bank a buy, no analysts rate it a sell, and none rate it a hold. 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, expanding profit margins and compelling growth in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.
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