Summit Securities Group LLC purchased a new position in shares of HDFC Bank Limited (NYSE:HDB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,300 shares of the bank’s stock, valued at approximately $2,113,000. HDFC Bank Limited accounts for approximately 0.4% of Summit Securities Group LLC’s holdings, making the stock its 21st largest position.
Several other hedge funds have also recently made changes to their positions in the stock. Wetherby Asset Management Inc. increased its stake in shares of HDFC Bank Limited by 21.7% in the second quarter. Wetherby Asset Management Inc. now owns 7,465 shares of the bank’s stock worth $649,000 after buying an additional 1,331 shares in the last quarter. Connable Office Inc. purchased a new stake in shares of HDFC Bank Limited during the second quarter worth $1,261,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of HDFC Bank Limited during the second quarter worth $156,000. IFP Advisors Inc increased its stake in shares of HDFC Bank Limited by 7.0% in the second quarter. IFP Advisors Inc now owns 2,072 shares of the bank’s stock worth $180,000 after buying an additional 136 shares in the last quarter. Finally, Telemus Capital LLC purchased a new stake in shares of HDFC Bank Limited during the second quarter worth $507,000. Institutional investors and hedge funds own 18.94% of the company’s stock.
Shares of HDFC Bank Limited (HDB) opened at 94.48 on Friday. The firm’s 50-day moving average is $92.02 and its 200 day moving average is $81.29. The firm has a market capitalization of $484.22 billion, a P/E ratio of 204.95 and a beta of 0.87. HDFC Bank Limited has a one year low of $59.00 and a one year high of $99.77.
The business also recently announced a None dividend, which was paid on Thursday, August 3rd. Investors of record on Thursday, June 29th were issued a $0.494 dividend. The ex-dividend date of this dividend was Tuesday, June 27th.
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A number of brokerages recently weighed in on HDB. Jefferies Group LLC upgraded shares of HDFC Bank Limited from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Morgan Stanley upgraded shares of HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 25th. BidaskClub upgraded shares of HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Friday, July 21st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $103.00.
HDFC Bank Limited Company Profile
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.
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