Principal Financial Group Inc. Grows Holdings in HDFC Bank Limited (NYSE:HDB)

Principal Financial Group Inc. boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 31.5% in the 3rd quarter, according to the company in its most recent 13F 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 quarter. Principal Financial Group Inc.’s holdings in HDFC Bank were worth $2,954,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in HDB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of HDFC Bank by 2,092.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,418,328 shares of the bank’s stock valued at $213,851,000 after purchasing an additional 3,262,442 shares during the period. TPG GP A LLC purchased a new stake in shares of HDFC Bank during the second quarter worth about $95,637,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of HDFC Bank by 130.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,185,500 shares of the bank’s stock worth $140,593,000 after buying an additional 1,236,100 shares in the last quarter. FMR LLC grew its holdings in HDFC Bank by 19.3% in the third quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock valued at $430,339,000 after purchasing an additional 1,114,210 shares during the period. Finally, Eminence Capital LP purchased a new stake in HDFC Bank in the second quarter valued at approximately $68,340,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

HDFC Bank Trading Down 2.4 %

HDB opened at $62.54 on Friday. The stock has a market capitalization of $158.37 billion, a PE ratio of 19.01, a P/E/G ratio of 1.78 and a beta of 0.92. The firm’s fifty day moving average price is $64.90 and its 200 day moving average price is $62.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $68.50.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The firm had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. As a group, research analysts expect that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

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.