Summitry LLC Has $700,000 Stake in HDFC Bank Limited $HDB

Summitry LLC increased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 24.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,130 shares of the bank’s stock after acquiring an additional 1,798 shares during the quarter. Summitry LLC’s holdings in HDFC Bank were worth $700,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of HDB. New Vernon Capital Holdings II LLC acquired a new position in HDFC Bank during the 1st quarter worth $1,546,956,000. GQG Partners LLC lifted its stake in shares of HDFC Bank by 105.5% during the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock valued at $1,076,128,000 after acquiring an additional 8,313,645 shares during the period. Royal Bank of Canada lifted its stake in shares of HDFC Bank by 53.5% during the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock valued at $745,107,000 after acquiring an additional 3,907,637 shares during the period. JPMorgan Chase & Co. boosted its holdings in HDFC Bank by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank’s stock valued at $638,934,000 after acquiring an additional 202,032 shares during the last quarter. Finally, Temasek Holdings Private Ltd increased its position in HDFC Bank by 3.9% in the first quarter. Temasek Holdings Private Ltd now owns 8,895,662 shares of the bank’s stock worth $591,028,000 after purchasing an additional 337,874 shares during the period. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on HDB. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings reissued a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, HDFC Bank has an average rating of “Moderate Buy”.

HDFC Bank Stock Performance

HDB opened at $36.39 on Friday. The firm’s fifty day moving average is $35.56 and its two-hundred day moving average is $36.71. The firm has a market cap of $185.64 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.08. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. Equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

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.