Kayne Anderson Rudnick Investment Management LLC Has $1.03 Million Position in HDFC Bank Limited (NYSE:HDB)

Kayne Anderson Rudnick Investment Management LLC trimmed its stake in HDFC Bank Limited (NYSE:HDB) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,100 shares of the bank’s stock after selling 1,084 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in HDFC Bank were worth $1,028,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of HDFC Bank during the third quarter worth approximately $985,000. Synovus Financial Corp raised its holdings in HDFC Bank by 0.8% during the third quarter. Synovus Financial Corp now owns 89,591 shares of the bank’s stock worth $5,605,000 after buying an additional 711 shares during the last quarter. Peapack Gladstone Financial Corp bought a new position in shares of HDFC Bank in the third quarter valued at $353,000. Franklin Resources Inc. lifted its stake in shares of HDFC Bank by 9.0% in the third quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock valued at $420,477,000 after buying an additional 560,880 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of HDFC Bank by 31.5% during the third quarter. Principal Financial Group Inc. now owns 47,225 shares of the bank’s stock valued at $2,954,000 after buying an additional 11,319 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HDB. Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd.

HDFC Bank Stock Performance

Shares of HDB stock opened at $75.19 on Wednesday. HDFC Bank Limited has a one year low of $54.99 and a one year high of $75.37. The company has a market cap of $190.41 billion, a P/E ratio of 22.85, a P/E/G ratio of 2.12 and a beta of 0.68. The firm has a 50-day moving average of $63.84 and a 200-day moving average of $63.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $434.68 billion. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Equities research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Company Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.