Summitry LLC Increases Position in HDFC Bank Limited (NYSE:HDB)

Summitry LLC lifted its position in shares of HDFC Bank Limited (NYSE:HDB) by 18.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,760 shares of the bank’s stock after purchasing an additional 1,037 shares during the period. Summitry LLC’s holdings in HDFC Bank were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC bought a new stake in HDFC Bank during the fourth quarter valued at about $29,000. Pin Oak Investment Advisors Inc. grew its position 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 in the last quarter. Sierra Ocean LLC bought a new stake in HDFC Bank during the 4th quarter valued at approximately $42,000. Kestra Investment Management LLC purchased a new position in HDFC Bank in the 4th quarter worth approximately $60,000. Finally, JFS Wealth Advisors LLC boosted its stake in HDFC Bank by 52.6% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,018 shares of the bank’s stock worth $65,000 after purchasing an additional 351 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE:HDB opened at $65.90 on Wednesday. The stock’s 50 day simple moving average is $60.56 and its two-hundred day simple moving average is $62.56. HDFC Bank Limited has a 1 year low of $54.07 and a 1 year high of $68.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $166.88 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.12 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.