Clough Capital Partners L P Sells 48,468 Shares of HDFC Bank Limited $HDB

Clough Capital Partners L P reduced its position in shares of HDFC Bank Limited (NYSE:HDB) by 53.0% during the 4th quarter, HoldingsChannel.com reports. The fund 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 filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Snowden Capital Advisors LLC raised its position in HDFC Bank by 5.8% during the second quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock worth $438,000 after acquiring an additional 311 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in HDFC Bank by 0.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock worth $2,711,000 after acquiring an additional 345 shares in the last quarter. Flputnam Investment Management Co. raised its position in HDFC Bank by 2.6% during the fourth quarter. Flputnam Investment Management Co. now owns 14,363 shares of the bank’s stock worth $525,000 after acquiring an additional 361 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in HDFC Bank by 19.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock worth $85,000 after acquiring an additional 384 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its position in HDFC Bank by 3.0% during the fourth quarter. Sivia Capital Partners LLC now owns 13,492 shares of the bank’s stock worth $493,000 after acquiring an additional 397 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

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 research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Insider Buying and Selling at HDFC Bank

In other HDFC Bank news, insider Ashish Parthasarthy sold 6,000 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total value of $53,640.00. Following the transaction, the insider directly owned 848,558 shares in the company, valued at $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the transaction, the insider owned 638,422 shares in the company, valued at $5,567,039.84. The trade was a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 31,600 shares of company stock worth $271,660. Corporate insiders own 1.00% of the company’s stock.

HDFC Bank Price Performance

NYSE:HDB opened at $24.70 on Thursday. HDFC Bank Limited has a one year low of $22.91 and a one year high of $39.81. The company has a market cap of $125.99 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.17 and a beta of 0.65. The firm’s fifty day moving average price is $24.98 and its two-hundred day moving average price is $29.64.

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).