Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,481 shares of the bank’s stock, valued at approximately $2,841,000.
Other large investors have also bought and sold shares of the company. First Interstate Bank bought a new stake in HDFC Bank Limited during the second quarter valued at about $103,000. Parallel Advisors LLC raised its holdings in HDFC Bank Limited by 14.8% during the second quarter. Parallel Advisors LLC now owns 1,469 shares of the bank’s stock valued at $142,000 after acquiring an additional 189 shares during the period. Huntington National Bank raised its holdings in HDFC Bank Limited by 4.9% during the second quarter. Huntington National Bank now owns 1,730 shares of the bank’s stock valued at $150,000 after acquiring an additional 81 shares during the period. Shine Investment Advisory Services Inc. bought a new stake in HDFC Bank Limited during the second quarter valued at about $156,000. Finally, Creative Planning increased its holdings in shares of HDFC Bank Limited by 7.1% in the second quarter. Creative Planning now owns 1,821 shares of the bank’s stock worth $158,000 after purchasing an additional 121 shares during the last quarter. 17.78% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research cut HDFC Bank Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Morgan Stanley raised HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 25th. Jefferies Group LLC raised HDFC Bank Limited from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, BidaskClub raised HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. HDFC Bank Limited currently has a consensus rating of “Buy” and an average target price of $110.00.
ILLEGAL ACTIVITY WARNING: “Kayne Anderson Rudnick Investment Management LLC Invests $2.84 Million in HDFC Bank Limited (HDB) Stock” was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://sportsperspectives.com/2017/11/19/kayne-anderson-rudnick-investment-management-llc-invests-2-84-million-in-hdfc-bank-limited-hdb-stock.html.
About HDFC Bank Limited
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.
Want to see what other hedge funds are holding HDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HDFC Bank Limited (NYSE:HDB).
Receive News & Ratings for HDFC Bank Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HDFC Bank Limited and related companies with MarketBeat.com's FREE daily email newsletter.