Impax Asset Management Group plc Sells 659,045 Shares of HDFC Bank Limited (NYSE:HDB)

Impax Asset Management Group plc reduced its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 14.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,876,289 shares of the bank’s stock after selling 659,045 shares during the quarter. Impax Asset Management Group plc owned 0.21% of HDFC Bank worth $241,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. PDS Planning Inc purchased a new stake in HDFC Bank during the third quarter valued at $569,000. Robeco Institutional Asset Management B.V. increased its position in HDFC Bank by 143.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,240,388 shares of the bank’s stock worth $77,599,000 after buying an additional 731,388 shares in the last quarter. BSW Wealth Partners increased its position in HDFC Bank by 61.2% in the third quarter. BSW Wealth Partners now owns 7,731 shares of the bank’s stock worth $484,000 after buying an additional 2,934 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in shares of HDFC Bank by 2.2% in the third quarter. Coronation Fund Managers Ltd. now owns 217,838 shares of the bank’s stock worth $13,628,000 after acquiring an additional 4,778 shares during the period. Finally, Jacobson & Schmitt Advisors LLC boosted its stake in shares of HDFC Bank by 4.9% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 158,692 shares of the bank’s stock worth $9,928,000 after acquiring an additional 7,388 shares during the period. 17.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HDB has been the subject of a number of recent analyst reports. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

HDFC Bank Stock Performance

NYSE HDB opened at $62.51 on Tuesday. The firm has a market cap of $158.29 billion, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 1.66 and a beta of 0.91. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. The business has a 50-day moving average price of $62.48 and a 200-day moving average price of $60.70. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44.

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.