Impax Asset Management Group plc Buys 735,409 Shares of HDFC Bank Limited $HDB

Impax Asset Management Group plc raised its stake in HDFC Bank Limited (NYSE:HDB) by 77.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,687,380 shares of the bank’s stock after purchasing an additional 735,409 shares during the period. Impax Asset Management Group plc’s holdings in HDFC Bank were worth $57,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its position in HDFC Bank by 150.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock valued at $396,312,000 after acquiring an additional 6,963,646 shares during the last quarter. C WorldWide Group Holding A S grew its holdings in HDFC Bank by 133.0% in the third quarter. C WorldWide Group Holding A S now owns 9,362,828 shares of the bank’s stock worth $319,834,000 after purchasing an additional 5,345,005 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of HDFC Bank by 89.1% during 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 in the last quarter. PineStone Asset Management Inc. lifted its holdings in shares of 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 purchasing an additional 4,089,267 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in shares of HDFC Bank by 97.1% during the 3rd quarter. Baillie Gifford & Co. now owns 6,806,818 shares of the bank’s stock valued at $232,521,000 after purchasing an additional 3,353,109 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

NYSE HDB opened at $33.98 on Wednesday. The company has a market cap of $173.35 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.38 and a beta of 0.57. The stock’s fifty day moving average price is $34.39 and its 200 day moving average price is $35.53. HDFC Bank Limited has a 1 year low of $29.23 and a 1 year high of $39.81.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $16.48 billion for the quarter, compared to the consensus estimate of $5.12 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%. Research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

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

HDFC Bank Company 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).