HDFC Bank Limited (NYSE:HDB) Stock Holdings Raised by Summit Global Investments

Summit Global Investments grew its stake in HDFC Bank Limited (NYSE:HDB) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of HDFC Bank by 51.6% during the third quarter. Wellington Management Group LLP now owns 2,457,211 shares of the bank’s stock worth $145,000,000 after purchasing an additional 836,449 shares during the period. Northern Trust Corp raised its stake in HDFC Bank by 13.1% during the third quarter. Northern Trust Corp now owns 385,864 shares of the bank’s stock worth $22,770,000 after acquiring an additional 44,648 shares during the period. Martin Currie Ltd. lifted its holdings in HDFC Bank by 1.7% in the third quarter. Martin Currie Ltd. now owns 3,401,986 shares of the bank’s stock worth $200,751,000 after acquiring an additional 57,055 shares during the last quarter. Citigroup Inc. lifted its holdings in HDFC Bank by 1,193.0% in the third quarter. Citigroup Inc. now owns 749,586 shares of the bank’s stock worth $44,233,000 after acquiring an additional 691,615 shares during the last quarter. Finally, Aikya Investment Management Ltd bought a new position in shares of HDFC Bank during the fourth quarter valued at approximately $77,036,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Ratings Changes

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

HDFC Bank Stock Performance

HDB stock traded up $0.72 during mid-day trading on Thursday, reaching $58.86. The company had a trading volume of 1,438,971 shares, compared to its average volume of 3,472,150. The stock’s 50-day simple moving average is $56.42 and its two-hundred day simple moving average is $58.55. The stock has a market capitalization of $109.47 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.08 and a beta of 0.85. The company has a quick ratio of 0.52, a current ratio of 0.40 and a debt-to-equity ratio of 1.78. HDFC Bank Limited has a one year low of $52.16 and a one year 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.