Clough Capital Partners L P Acquires 47,638 Shares of HDFC Bank Limited $HDB

Clough Capital Partners L P lifted its stake in HDFC Bank Limited (NYSE:HDB) by 108.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,398 shares of the bank’s stock after purchasing an additional 47,638 shares during the quarter. Clough Capital Partners L P’s holdings in HDFC Bank were worth $3,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Schroder Investment Management Group increased its position in HDFC Bank by 137.6% during the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock valued at $861,554,000 after acquiring an additional 14,606,422 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 acquiring an additional 9,808,890 shares in the last quarter. Franklin Resources Inc. grew its holdings in HDFC Bank by 106.1% during the 3rd 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 in the last quarter. Wellington Management Group LLP boosted its holdings in shares of HDFC Bank by 94.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock valued at $449,381,000 after purchasing an additional 6,386,002 shares during the last quarter. Finally, Invesco Ltd. increased its stake in HDFC Bank by 98.3% in the 3rd quarter. Invesco Ltd. now owns 12,338,006 shares of the bank’s stock worth $421,466,000 after acquiring an additional 6,115,797 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $28.25 on Friday. HDFC Bank Limited has a 1 year low of $28.05 and a 1 year high of $39.81. The firm has a 50-day simple moving average of $32.28 and a two-hundred day simple moving average of $34.55. The company has a market cap of $144.11 billion, a P/E ratio of 16.97, a PEG ratio of 1.17 and a beta of 0.56.

Wall Street Analyst Weigh In

HDB has been the topic of a number of research reports. Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

About HDFC Bank

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).