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

Key Points

• Clough Capital Partners L P has reduced its stake in HDFC Bank by 42.5%, selling 35,450 shares and now holding a total of 47,880 shares valued at approximately $3.18 million.
• Several institutional investors significantly increased their holdings in HDFC Bank during the first quarter, with Larson Financial Group alone boosting its stake by 1,217.1%.
• HDFC Bank's stock currently has a market capitalization of $181.37 billion, with a recent opening price of $71.10 and a consensus rating of "Strong Buy" from analysts.

Clough Capital Partners L P trimmed its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 42.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,880 shares of the bank's stock after selling 35,450 shares during the quarter. Clough Capital Partners L P's holdings in HDFC Bank were worth $3,181,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HDB. Northern Trust Corp grew its position in HDFC Bank by 52.0% during the fourth quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock valued at $64,855,000 after acquiring an additional 347,488 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of HDFC Bank in the 4th quarter worth about $580,000. Raiffeisen Bank International AG raised its position in shares of HDFC Bank by 21.3% in the 1st quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank's stock worth $12,778,000 after purchasing an additional 33,983 shares during the last quarter. Natixis Advisors LLC raised its position in shares of HDFC Bank by 20.6% in the 1st quarter. Natixis Advisors LLC now owns 2,238,560 shares of the bank's stock worth $148,730,000 after purchasing an additional 382,267 shares during the last quarter. Finally, ARGA Investment Management LP raised its position in shares of HDFC Bank by 7.2% in the 1st quarter. ARGA Investment Management LP now owns 1,553,975 shares of the bank's stock worth $103,246,000 after purchasing an additional 104,162 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Trading Down 1.9%

NYSE:HDB traded down $1.38 during mid-day trading on Tuesday, reaching $69.78. The company's stock had a trading volume of 2,976,609 shares, compared to its average volume of 2,524,853. The firm's fifty day moving average price is $75.54 and its two-hundred day moving average price is $71.01. The stock has a market cap of $177.99 billion, a P/E ratio of 21.40, a PEG ratio of 1.82 and a beta of 0.63. HDFC Bank Limited has a 12-month low of $57.78 and a 12-month high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. Analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were issued a $0.1707 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a yield of 101.0%. HDFC Bank's payout ratio is currently 19.63%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Strong Buy".

HDFC Bank Company Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.