Saban Capital Group LLC bought a new stake in shares of HDFC Bank Limited (NYSE:HDB) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,180 shares of the bank’s stock, valued at approximately $283,000. HDFC Bank comprises approximately 0.5% of Saban Capital Group LLC’s investment portfolio, making the stock its 19th biggest holding.
Other large investors also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. raised its stake in HDFC Bank by 67.8% during the 1st quarter. American Beacon Advisors Inc. now owns 292 shares of the bank’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Nkcfo LLC acquired a new position in shares of HDFC Bank in the 2nd quarter valued at $39,000. Manchester Financial Inc. acquired a new position in shares of HDFC Bank in the 2nd quarter valued at $51,000. Advisors Preferred LLC acquired a new position in shares of HDFC Bank in the 2nd quarter valued at $53,000. Finally, West Oak Capital LLC acquired a new position in shares of HDFC Bank in the 2nd quarter valued at $72,000. Hedge funds and other institutional investors own 19.26% of the company’s stock.
A number of equities analysts have recently issued reports on HDB shares. Nomura cut shares of HDFC Bank from a “buy” rating to a “neutral” rating and set a $128.63 price objective for the company. in a research note on Tuesday, June 11th. Zacks Investment Research cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th.
HDFC Bank Company Profile
HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.
Further Reading: What does it mean to hold a stock in street name?
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HDFC Bank and related companies with MarketBeat.com's FREE daily email newsletter.