Kayne Anderson Rudnick Investment Management LLC Invests $2.84 Million in HDFC Bank Limited (HDB) Stock

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.

Shares of HDFC Bank Limited (NYSE:HDB) opened at $97.00 on Friday. HDFC Bank Limited has a twelve month low of $59.00 and a twelve month high of $100.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $82,855.66, a PE ratio of 36.47, a PEG ratio of 1.11 and a beta of 0.83.

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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.

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Institutional Ownership by Quarter for HDFC Bank Limited (NYSE:HDB)

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