Greenfield Seitz Capital Management LLC Acquires 55,533 Shares of HDFC Bank Limited $HDB

Greenfield Seitz Capital Management LLC lifted its stake in HDFC Bank Limited (NYSE:HDB) by 99.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 111,479 shares of the bank’s stock after purchasing an additional 55,533 shares during the quarter. HDFC Bank accounts for approximately 1.2% of Greenfield Seitz Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Greenfield Seitz Capital Management LLC’s holdings in HDFC Bank were worth $3,808,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division boosted its position in shares of HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after acquiring an additional 379 shares in the last quarter. Larson Financial Group LLC raised its position in HDFC Bank by 90.4% during 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 in the last quarter. Clearstead Advisors LLC lifted its stake in HDFC Bank by 476.8% during the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after purchasing an additional 739 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after purchasing an additional 322 shares in the last quarter. Finally, Accent Capital Management LLC increased its stake in shares of HDFC Bank by 100.0% in the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after purchasing an additional 459 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, HDFC Bank currently has a consensus rating of “Reduce”.

HDFC Bank Trading Down 1.0%

Shares of HDB opened at $28.70 on Wednesday. The stock’s 50-day moving average price is $32.08 and its two-hundred day moving average price is $34.44. HDFC Bank Limited has a 12 month low of $28.05 and a 12 month high of $39.81. The company has a market capitalization of $146.41 billion, a PE ratio of 17.24, a PEG ratio of 1.21 and a beta of 0.56.

HDFC Bank Company 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).