Principal Financial Group Inc. Buys 11,319 Shares of HDFC Bank Limited (NYSE:HDB)

Principal Financial Group Inc. grew its stake in HDFC Bank Limited (NYSE:HDB) by 31.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,225 shares of the bank’s stock after purchasing an additional 11,319 shares during the period. Principal Financial Group Inc.’s holdings in HDFC Bank were worth $2,954,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC bought a new stake in shares of HDFC Bank during the 2nd quarter worth approximately $36,000. Northwest Investment Counselors LLC bought a new stake in shares of HDFC Bank during the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC lifted its stake in shares of HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after acquiring an additional 275 shares during the last quarter. LRI Investments LLC bought a new stake in shares of HDFC Bank during the 1st quarter worth approximately $56,000. Finally, GAMMA Investing LLC lifted its stake in shares of HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after acquiring an additional 324 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

HDFC Bank Stock Performance

Shares of HDB opened at $64.51 on Friday. The stock has a 50-day moving average of $63.03 and a two-hundred day moving average of $61.14. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $163.36 billion, a P/E ratio of 19.61, a P/E/G ratio of 1.65 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.09. The business had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. As a group, research analysts predict 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.