Summit Global Investments Has $843,000 Position in HDFC Bank Limited (NYSE:HDB)

Summit Global Investments raised its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 46.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,199 shares of the bank's stock after acquiring an additional 4,210 shares during the period. Summit Global Investments' holdings in HDFC Bank were worth $843,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in HDB. TD Private Client Wealth LLC increased its position in shares of HDFC Bank by 8.7% during the 4th quarter. TD Private Client Wealth LLC now owns 5,337 shares of the bank's stock valued at $341,000 after purchasing an additional 428 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in HDFC Bank by 66.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 5,780 shares of the bank's stock valued at $369,000 after buying an additional 2,313 shares in the last quarter. Whittier Trust Co. increased its position in shares of HDFC Bank by 51.3% in the fourth quarter. Whittier Trust Co. now owns 19,739 shares of the bank's stock worth $1,261,000 after acquiring an additional 6,692 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its position in shares of HDFC Bank by 3.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 35,303 shares of the bank's stock valued at $2,254,000 after acquiring an additional 1,203 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in HDFC Bank by 9.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 278,843 shares of the bank's stock worth $17,807,000 after purchasing an additional 24,448 shares during the period. 17.61% of the stock is currently owned by institutional investors.

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HDFC Bank Stock Up 1.2 %

Shares of HDB traded up $0.82 during midday trading on Thursday, reaching $66.72. 5,053,736 shares of the stock were exchanged, compared to its average volume of 2,548,465. The company has a market cap of $168.94 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 2.12 and a beta of 0.92. The firm has a 50 day simple moving average of $60.69 and a 200-day simple moving average of $62.59. HDFC Bank Limited has a 12-month low of $54.99 and a 12-month high of $68.50. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Ratings Changes

HDB has been the subject of several recent analyst reports. Nomura Securities raised HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. Nomura upgraded shares of HDFC Bank from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, StockNews.com downgraded shares of 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.