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

Impax Asset Management Group plc decreased its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 14.5% during the third quarter, according to the company in its most recent filing with the 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 approximately 0.21% of HDFC Bank worth $241,869,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. lifted its position in shares of HDFC Bank by 5.4% in the second quarter. UMB Bank n.a. now owns 4,831 shares of the bank's stock valued at $311,000 after acquiring an additional 248 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in HDFC Bank by 4.2% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank's stock worth $399,000 after purchasing an additional 257 shares in the last quarter. Endowment Wealth Management Inc. boosted its stake in HDFC Bank by 6.5% in the 1st quarter. Endowment Wealth Management Inc. now owns 4,438 shares of the bank's stock worth $248,000 after purchasing an additional 272 shares during the period. JFS Wealth Advisors LLC grew its holdings in HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank's stock valued at $42,000 after buying an additional 275 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of HDFC Bank by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank's stock valued at $76,000 after buying an additional 312 shares during the last quarter. Institutional investors own 17.61% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on HDB shares. JPMorgan Chase & Co. lowered shares of HDFC Bank from an "overweight" rating to a "neutral" rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of HDFC Bank from a "hold" rating to a "sell" rating in a report on Saturday, October 12th.

HDFC Bank Price Performance

NYSE HDB traded up $1.68 during trading on Tuesday, hitting $64.19. 2,334,139 shares of the stock traded hands, compared to its average volume of 3,018,895. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44. The firm has a 50-day simple moving average of $62.54 and a 200-day simple moving average of $60.73. The company has a market capitalization of $162.55 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.91.

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.