Impax Asset Management Group plc Raises Stock Holdings in HDFC Bank Limited $HDB

Impax Asset Management Group plc increased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 77.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,687,380 shares of the bank’s stock after acquiring an additional 735,409 shares during the period. Impax Asset Management Group plc’s holdings in HDFC Bank were worth $57,641,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HDB. Robeco Institutional Asset Management B.V. increased its stake in HDFC Bank by 150.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock worth $396,312,000 after purchasing an additional 6,963,646 shares during the period. Schroder Investment Management Group grew its holdings in shares of HDFC Bank by 19.0% in the second quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock worth $813,830,000 after purchasing an additional 1,692,243 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of HDFC Bank by 89.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock worth $348,741,000 after purchasing an additional 4,810,042 shares during the last quarter. C WorldWide Group Holding A S increased its stake in HDFC Bank by 133.0% in the 3rd quarter. C WorldWide Group Holding A S now owns 9,362,828 shares of the bank’s stock worth $319,834,000 after buying an additional 5,345,005 shares during the period. Finally, PineStone Asset Management Inc. lifted its holdings in HDFC Bank by 100.4% during the 3rd quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock valued at $278,873,000 after buying an additional 4,089,267 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

HDB has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

HDFC Bank Stock Performance

NYSE:HDB opened at $33.98 on Wednesday. The firm has a 50-day simple moving average of $34.39 and a 200-day simple moving average of $35.53. HDFC Bank Limited has a one year low of $29.23 and a one year high of $39.81. The firm has a market cap of $173.35 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.38 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. On average, research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).