3 Stocks Driving The Financial Sector Higher

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 34 points (0.2%) at 16,585 as of Friday, May 9, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,493 issues advancing vs. 1,448 declining with 155 unchanged.

The Financial sector currently sits up 0.2% versus the S&P 500, which is up 0.1%. Top gainers within the sector include National Bank of Greece ( NBG), up 2.7%, Digital Realty ( DLR), up 2.0%, KKR ( KKR), up 2.0%, Franklin Resources ( BEN), up 1.5% and Charles Schwab ( SCHW), up 1.3%. On the negative front, top decliners within the sector include Hospitality Properties ( HPT), down 5.4%, Royal Bank of Scotland Group (The ( RBS), down 1.5%, Sun Life Financial ( SLF), down 1.4%, Canadian Imperial Bank of Commerce ( CM), down 1.3% and Credit Suisse Group ( CS), down 1.2%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. HDFC Bank ( HDB) is one of the companies pushing the Financial sector higher today. As of noon trading, HDFC Bank is up $1.83 (4.4%) to $43.64 on average volume. Thus far, 758,399 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 $42.90-$44.12 after having opened the day at $43.03 as compared to the previous trading day's close of $41.81.

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 $32.9 billion and is part of the banking industry. Shares are up 21.4% year-to-date as of the close of trading on Thursday. Currently there are 2 analysts who 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 compelling growth in net income, notable return on equity and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. Get the full HDFC Bank Ratings Report now.

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