HDFC Bank Limited (NYSE:HDB) Shares Purchased by Summit Global Investments

Summit Global Investments boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 46.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,199 shares of the bank’s stock after purchasing an additional 4,210 shares during the period. Summit Global Investments’ holdings in HDFC Bank were worth $843,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Glenmede Trust Co. NA grew its holdings in shares of HDFC Bank by 3.6% during the third quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock worth $301,000 after buying an additional 167 shares during the last quarter. Waverton Investment Management Ltd grew its stake in shares of HDFC Bank by 1.0% in the 4th quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank’s stock valued at $1,275,000 after purchasing an additional 203 shares during the last quarter. Commerce Bank increased its holdings in shares of HDFC Bank by 7.0% in the third quarter. Commerce Bank now owns 3,427 shares of the bank’s stock valued at $214,000 after purchasing an additional 225 shares during the period. Pin Oak Investment Advisors Inc. raised its stake in shares of HDFC Bank by 104.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after purchasing an additional 254 shares during the last quarter. Finally, Baron Wealth Management LLC lifted its holdings in shares of HDFC Bank by 3.7% during the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank’s stock worth $470,000 after purchasing an additional 263 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Up 1.3 %

HDFC Bank stock opened at $64.54 on Monday. The stock’s 50 day moving average price is $60.26 and its 200 day moving average price is $62.49. The company has a market cap of $163.42 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. HDFC Bank Limited has a 1-year low of $54.07 and a 1-year high of $68.50.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. On average, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Finally, Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.