HDFC Bank Limited (NYSE:HDB) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in HDFC Bank Limited (NYSE:HDB) by 31.5% in the third quarter, HoldingsChannel.com reports. The firm owned 47,225 shares of the bank’s stock after buying an additional 11,319 shares during the quarter. Principal Financial Group Inc.’s holdings in HDFC Bank were worth $2,954,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of HDFC Bank by 10.9% in the first quarter. Vanguard Group Inc. now owns 122,023 shares of the bank’s stock valued at $6,830,000 after purchasing an additional 12,037 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of HDFC Bank by 34.5% in the first quarter. Advisors Asset Management Inc. now owns 24,400 shares of the bank’s stock valued at $1,366,000 after purchasing an additional 6,261 shares in the last quarter. Toronto Dominion Bank grew its position in shares of HDFC Bank by 10.8% in the first quarter. Toronto Dominion Bank now owns 3,328 shares of the bank’s stock valued at $186,000 after purchasing an additional 325 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of HDFC Bank in the first quarter valued at approximately $125,000. Finally, Earnest Partners LLC grew its position in shares of HDFC Bank by 9.1% in the first quarter. Earnest Partners LLC now owns 1,249,070 shares of the bank’s stock valued at $69,910,000 after purchasing an additional 103,917 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.

HDFC Bank Trading Up 1.5 %

HDB opened at $64.51 on Friday. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The stock has a market capitalization of $163.36 billion, a PE ratio of 19.61, a P/E/G ratio of 1.65 and a beta of 0.91. The business’s 50 day moving average price is $63.03 and its 200 day moving average price is $61.14. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The firm had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. As a group, equities research analysts expect that HDFC Bank Limited will post 3.2 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.