Clough Capital Partners L P Has $1.57 Million Position in HDFC Bank Limited $HDB

Clough Capital Partners L P lowered its position in shares of HDFC Bank Limited (NYSE:HDB) by 53.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,930 shares of the bank’s stock after selling 48,468 shares during the quarter. Clough Capital Partners L P’s holdings in HDFC Bank were worth $1,569,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Schroder Investment Management Group boosted its holdings in shares of HDFC Bank by 137.6% in the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock valued at $861,554,000 after buying an additional 14,606,422 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of HDFC Bank by 104.4% in the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock valued at $656,035,000 after buying an additional 9,808,890 shares during the period. Royal Bank of Canada boosted its holdings in shares of HDFC Bank by 31.0% in the fourth quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock valued at $1,457,865,000 after buying an additional 9,451,992 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of HDFC Bank by 9,866.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock valued at $271,381,000 after buying an additional 7,864,692 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of HDFC Bank by 106.1% in the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock valued at $474,310,000 after buying an additional 7,147,440 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Down 2.3%

Shares of HDB stock opened at $24.70 on Thursday. The company’s fifty day simple moving average is $24.98 and its 200-day simple moving average is $29.64. The firm has a market cap of $125.99 billion, a PE ratio of 14.79, a P/E/G ratio of 1.17 and a beta of 0.65. HDFC Bank Limited has a 12 month low of $22.91 and a 12 month high of $39.81.

Insiders Place Their Bets

In other news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the sale, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ashish Parthasarthy sold 5,600 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the sale, the insider directly owned 842,958 shares in the company, valued at approximately $7,333,734.60. This represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 31,600 shares of company stock worth $271,660. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, HDFC Bank has an average rating of “Reduce”.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).