Kayne Anderson Rudnick Investment Management LLC Sells 1,084 Shares of HDFC Bank Limited (NYSE:HDB)

Kayne Anderson Rudnick Investment Management LLC trimmed its position in shares of HDFC Bank Limited (NYSE:HDB) by 6.3% in the 4th quarter, according to the company in 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 period. Kayne Anderson Rudnick Investment Management LLC’s holdings in HDFC Bank were worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. FIL Ltd grew its stake in shares of HDFC Bank by 17.5% during the 4th quarter. FIL Ltd now owns 17,467,131 shares of the bank’s stock worth $1,115,451,000 after acquiring an additional 2,599,337 shares during the period. GQG Partners LLC lifted its holdings in HDFC Bank by 74.4% during the fourth quarter. GQG Partners LLC now owns 7,883,347 shares of the bank’s stock valued at $503,431,000 after purchasing an additional 3,364,114 shares during the last quarter. FMR LLC boosted its position in HDFC Bank by 13.3% during the fourth quarter. FMR LLC now owns 7,793,113 shares of the bank’s stock worth $497,668,000 after purchasing an additional 914,289 shares during the period. Schroder Investment Management Group increased its stake in shares of HDFC Bank by 82.1% in the fourth quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank’s stock worth $447,584,000 after purchasing an additional 3,160,533 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of HDFC Bank by 1.7% in the fourth quarter. Franklin Resources Inc. now owns 6,917,816 shares of the bank’s stock valued at $441,772,000 after purchasing an additional 113,988 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

HDFC Bank Trading Up 1.9 %

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

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The business 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%. On average, equities 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.