Impax Asset Management Group plc Sells 1,870,119 Shares of HDFC Bank Limited (NYSE:HDB)

Impax Asset Management Group plc lowered its position in HDFC Bank Limited (NYSE:HDB) by 29.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,535,334 shares of the bank’s stock after selling 1,870,119 shares during the quarter. HDFC Bank comprises approximately 1.2% of Impax Asset Management Group plc’s portfolio, making the stock its 27th largest holding. Impax Asset Management Group plc owned approximately 0.24% of HDFC Bank worth $291,023,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HDB. Envestnet Portfolio Solutions Inc. raised its holdings in shares of HDFC Bank by 0.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 22,404 shares of the bank’s stock valued at $1,504,000 after acquiring an additional 183 shares in the last quarter. Endowment Wealth Management Inc. lifted its position in HDFC Bank by 4.6% during the fourth quarter. Endowment Wealth Management Inc. now owns 4,166 shares of the bank’s stock valued at $280,000 after purchasing an additional 184 shares during the last quarter. Private Advisor Group LLC grew its stake in HDFC Bank by 2.3% in the 4th quarter. Private Advisor Group LLC now owns 9,853 shares of the bank’s stock worth $661,000 after buying an additional 218 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of HDFC Bank by 5.4% in the 2nd quarter. UMB Bank n.a. now owns 4,831 shares of the bank’s stock worth $311,000 after buying an additional 248 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after buying an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 0.4 %

Shares of HDB stock traded up $0.24 on Friday, hitting $61.19. 146,520 shares of the company’s stock traded hands, compared to its average volume of 3,102,726. The stock has a market capitalization of $113.81 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.62 and a beta of 0.92. The company’s fifty day simple moving average is $60.91 and its 200 day simple moving average is $58.63. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The firm had revenue of $14.03 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Equities analysts forecast that HDFC Bank Limited will post 2.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank 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.