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HDFC Bank (HDB) Falls: Stock Goes Down 5.4%

HDFC Bank Ltd. (HDB) saw a big move last session, as the company’s shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for HDB as the stock is now up nearly 3% in the past one-month time frame.

This foreign regional bank has seen a flat track record when it comes to current year estimate revisions over the past few weeks and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

HDB currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Some better-ranked stocks in the Banks – Foreign industry include The Royal Bank of Scotland Group plc (RBS), Itaú Unibanco Holding S.A. (ITUB) and Banco Latinoamericano de Comercio Exterior, S.A (BLX). While The Royal Bank of Scotland holds a Zacks Rank #1 (Strong Buy), Itaú Unibanco and Banco Latinoamericano carry a Zacks Rank #2 (Buy).

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HDFC BANK LTD (HDB): Free Stock Analysis Report


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