SummitTX Capital L.P. Invests $1.42 Million in HDFC Bank Limited $HDB

Key Points

• SummitTX Capital acquired 56,972 HDFC Bank shares worth approximately $1.42 million during the first quarter, while institutional investors and hedge funds collectively own 17.61% of the stock.
• HDFC Bank reported quarterly EPS of $0.40, exceeding the $0.38 consensus estimate, and revenue of $9.01 billion. The bank posted a 13.12% return on equity and a 15.96% net margin.
• Analyst sentiment remains mixed, but the overall consensus rating is Hold. HDB opened at $24.04, near its 52-week low of $22.66 and well below its $38.72 high.

SummitTX Capital L.P. acquired a new stake in HDFC Bank Limited (NYSE:HDB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 56,972 shares of the bank's stock, valued at approximately $1,417,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its holdings in HDFC Bank by 90.4% in the third quarter. Larson Financial Group LLC now owns 849 shares of the bank's stock valued at $29,000 after purchasing an additional 403 shares during the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of HDFC Bank during the 2nd quarter worth $75,000. Pin Oak Investment Advisors Inc. raised its stake in shares of HDFC Bank by 100.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank's stock worth $34,000 after buying an additional 498 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of HDFC Bank in the 3rd quarter worth about $43,000. Finally, Bell Investment Advisors Inc boosted its position in shares of HDFC Bank by 260.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank's stock worth $34,000 after buying an additional 1,002 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the sale, the insider directly owned 638,422 shares of the company's stock, valued at $5,567,039.84. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Zacks Research upgraded shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Friday, July 17th. Wall Street Zen downgraded shares of HDFC Bank from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Finally, Weiss Ratings upgraded shares of HDFC Bank from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

HDFC Bank Stock Up 2.0%

NYSE HDB opened at $24.04 on Thursday. HDFC Bank Limited has a fifty-two week low of $22.66 and a fifty-two week high of $38.72. The business has a fifty day moving average of $24.78 and a 200-day moving average of $27.45. The stock has a market cap of $122.66 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.11 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. The business had revenue of $9.01 billion for the quarter, compared to analyst estimates of $5 billion. HDFC Bank had a return on equity of 13.12% and a net margin of 15.96%. As a group, analysts anticipate that HDFC Bank Limited will post 1.67 EPS for the current year.

HDFC Bank Profile

HDFC Bank Limited is one of India's leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank's core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).

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