Impax Asset Management Group plc Sells 2,098,189 Shares of HDFC Bank Limited (NYSE:HDB)

Impax Asset Management Group plc decreased its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 66.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,041,998 shares of the bank's stock after selling 2,098,189 shares during the period. Impax Asset Management Group plc's holdings in HDFC Bank were worth $68,524,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Graney & King LLC acquired a new position in HDFC Bank during the 4th quarter valued at about $38,000. Brown Brothers Harriman & Co. grew its stake in shares of HDFC Bank by 63.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock worth $39,000 after acquiring an additional 240 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of HDFC Bank in the 1st quarter valued at approximately $55,000. Atlas Capital Advisors Inc. acquired a new stake in shares of HDFC Bank in the 4th quarter valued at approximately $56,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in HDFC Bank by 109.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock valued at $56,000 after purchasing an additional 443 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th.

HDFC Bank Price Performance

NYSE HDB traded down $0.02 during trading on Friday, hitting $76.16. 1,618,943 shares of the company's stock were exchanged, compared to its average volume of 2,733,734. The company has a current ratio of 0.07, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The company has a market cap of $192.86 billion, a PE ratio of 23.08, a P/E/G ratio of 1.85 and a beta of 0.64. HDFC Bank Limited has a fifty-two week low of $57.24 and a fifty-two week high of $78.14. The stock's 50 day moving average price is $74.32 and its two-hundred day moving average price is $66.89.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $434.68 billion. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. Research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

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.