3 Stocks Dragging The Banking Industry Downward
2. As of noon trading, HDFC Bank ( HDB) is down $0.39 (-1.0%) to $40.28 on average volume. Thus far, 808,376 shares of HDFC Bank exchanged hands as compared to its average daily volume of 1.2 million shares. The stock has ranged in price between $40.20-$41.05 after having opened the day at $40.94 as compared to the previous trading day's close of $40.67. HDFC Bank Limited, together with its subsidiaries, provides a range of financial products and services to individuals and businesses in India, as well as in Bahrain and Hong Kong. The company operates in four segments: Retail Banking, Wholesale Banking, Treasury, and Other Banking Operations. HDFC Bank has a market cap of $33.0 billion and is part of the financial sector. Shares are up 18.1% year-to-date as of the close of trading on Tuesday. Currently there are 2 analysts that rate HDFC Bank a buy, no analysts rate it a sell, and none rate it a hold. TheStreet Ratings rates HDFC Bank as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and increase in net income. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. Get the full HDFC Bank Ratings Report now. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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