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

Impax Asset Management Group plc lessened its position in HDFC Bank Limited (NYSE:HDB) by 29.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,535,334 shares of the bank’s stock after selling 1,870,119 shares during the period. HDFC Bank accounts for 1.2% of Impax Asset Management Group plc’s investment portfolio, making the stock its 27th biggest position. Impax Asset Management Group plc’s holdings in HDFC Bank were worth $291,023,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Breakout Capital Partners LP purchased a new position in HDFC Bank during the 4th quarter valued at about $18,894,000. CIBC Private Wealth Group LLC increased its stake in shares of HDFC Bank by 2.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 929,921 shares of the bank’s stock valued at $62,407,000 after buying an additional 21,265 shares during the period. Truist Financial Corp raised its holdings in shares of HDFC Bank by 17.7% during the fourth quarter. Truist Financial Corp now owns 39,606 shares of the bank’s stock valued at $2,658,000 after acquiring an additional 5,953 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in HDFC Bank in the second quarter worth $166,709,000. Finally, Sei Investments Co. increased its position in HDFC Bank by 0.8% during the 4th quarter. Sei Investments Co. now owns 1,661,176 shares of the bank’s stock valued at $111,481,000 after purchasing an additional 13,610 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 0.4 %

Shares of HDB stock traded up $0.24 during mid-day trading on Friday, reaching $61.19. 146,520 shares of the company’s stock traded hands, compared to its average volume of 3,102,726. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. The company’s 50-day moving average price is $60.91 and its 200-day moving average price is $58.63. The company has a market cap of $113.81 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.62 and a beta of 0.92. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $67.44.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping the consensus estimate of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The business had revenue of $14.03 billion for the quarter, compared to analyst estimates of $4.81 billion. On average, equities analysts expect that HDFC Bank Limited will post 2.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HDB has been the topic of several research analyst reports. JPMorgan Chase & Co. cut shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

About HDFC Bank

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.