Clough Capital Partners L P Increases Holdings in HDFC Bank Limited $HDB

Clough Capital Partners L P increased its position in HDFC Bank Limited (NYSE:HDB) by 108.9% during the 3rd quarter, Holdings Channel reports. The firm owned 91,398 shares of the bank’s stock after acquiring an additional 47,638 shares during the quarter. Clough Capital Partners L P’s holdings in HDFC Bank were worth $3,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Centiva Capital LP bought a new position in shares of HDFC Bank during the third quarter valued at approximately $424,000. Community Bank N.A. bought a new position in HDFC Bank in the third quarter worth approximately $68,000. Azimuth Capital Investment Management LLC lifted its holdings in HDFC Bank by 104.7% during the third quarter. Azimuth Capital Investment Management LLC now owns 260,264 shares of the bank’s stock worth $8,891,000 after buying an additional 133,147 shares during the period. Bamco Inc. NY boosted its position in HDFC Bank by 100.2% during the 3rd quarter. Bamco Inc. NY now owns 107,320 shares of the bank’s stock valued at $3,666,000 after acquiring an additional 53,725 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of HDFC Bank by 105.4% in the 3rd quarter. Bank of America Corp DE now owns 6,363,925 shares of the bank’s stock valued at $217,392,000 after acquiring an additional 3,266,077 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of NYSE HDB opened at $28.25 on Friday. The company has a market cap of $144.11 billion, a PE ratio of 16.97, a P/E/G ratio of 1.17 and a beta of 0.56. The business has a 50-day simple moving average of $32.28 and a two-hundred day simple moving average of $34.55. HDFC Bank Limited has a fifty-two week low of $28.05 and a fifty-two week high of $39.81.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HDB shares. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

HDFC Bank 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).