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

Summit Global Investments boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,694 shares of the bank’s stock after purchasing an additional 2,862 shares during the quarter. Summit Global Investments’ holdings in HDFC Bank were worth $5,147,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in HDFC Bank in the 3rd quarter valued at $27,000. NBC Securities Inc. acquired a new stake in shares of HDFC Bank in the third quarter valued at about $29,000. GAMMA Investing LLC acquired a new stake in shares of HDFC Bank in the fourth quarter valued at about $33,000. FinTrust Capital Advisors LLC increased its stake in shares of HDFC Bank by 36.4% during the third quarter. FinTrust Capital Advisors LLC now owns 693 shares of the bank’s stock worth $41,000 after purchasing an additional 185 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of HDFC Bank by 89.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock worth $41,000 after purchasing an additional 291 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a report on Monday, April 22nd.

HDFC Bank Price Performance

NYSE HDB traded up $0.72 during mid-day trading on Thursday, hitting $58.86. The stock had a trading volume of 1,438,971 shares, compared to its average volume of 3,472,150. The firm’s 50 day moving average is $56.42 and its 200 day moving average is $58.55. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.40 and a quick ratio of 0.52. The stock has a market capitalization of $109.47 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.08 and a beta of 0.85. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $71.39.

About HDFC Bank

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.