4 Financial Stocks Dragging The Sector Down

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One out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 7 points (0.0%) at 14,818 as of Tuesday, Sept. 3, 2013, 12:45 PM ET. The NYSE advances/declines ratio sits at 1,623 issues advancing vs. 1,312 declining with 88 unchanged.

The Financial sector currently sits up 0.4% versus the S&P 500, which is down 0.3%. A company within the sector that fell today was Simon Property Group ( SPG), up 1.3%. Top gainers within the sector include Orix Corporation ( IX), up 5.8%, Shinhan Financial Group ( SHG), up 5.3%, Nomura Holdings ( NMR), up 5.3%, Mitsubishi UFJ Financial Group ( MTU), up 4.3% and KB Financial Group ( KB), up 3.0%.

TheStreet would like to highlight 4 stocks pushing the sector lower today:

4. HDFC Bank ( HDB) is one of the companies pushing the Financial sector lower today. As of noon trading, HDFC Bank is down $1.63 (-5.6%) to $27.35 on heavy volume. Thus far, 1.6 million shares of HDFC Bank exchanged hands as compared to its average daily volume of 869,800 shares. The stock has ranged in price between $27.01-$27.88 after having opened the day at $27.88 as compared to the previous trading day's close of $28.98.

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 $23.1 billion and is part of the banking industry. Currently there is 1 analyst that rates HDFC Bank a buy, no analysts rate it a sell, and 1 rates 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 expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, premium valuation and feeble growth in the company's earnings per share. Get the full HDFC Bank Ratings Report now.

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