HDFC Bank (HDB) pushed the Banking industry lower today making it today's featured Banking loser. The industry as a whole closed the day up 0.9%. By the end of trading, HDFC Bank fell $1.04 (-3.4%) to $29.83 on average volume. Throughout the day, 815,473 shares of HDFC Bank exchanged hands as compared to its average daily volume of 762,800 shares. The stock ranged in price between $29.75-$30.54 after having opened the day at $30.35 as compared to the previous trading day's close of $30.87. Other company's within the Banking industry that declined today were: Credit Suisse (DGAZ), down 42%, Jacksonville Bancorp Inc (FL (JAXB), down 13.3%, Credit Suisse Group (CS), down 9.4%, and Porter Bancorp (PBIB), down 7.9%. 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 $24.55 billion and is part of the financial sector. The company has a P/E ratio of 26.9, above the average banking industry P/E ratio of 24.1 and above the S&P 500 P/E ratio of 17.7. Shares are up 6.7% year to date as of the close of trading on Wednesday. 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 Bank as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, increase in net income, impressive record of earnings per share growth 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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