Principal Financial Group Inc. Raises Stake in HDFC Bank Limited (NYSE:HDB)

Principal Financial Group Inc. increased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 3.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 48,679 shares of the bank’s stock after acquiring an additional 1,454 shares during the period. Principal Financial Group Inc.’s holdings in HDFC Bank were worth $3,109,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Trinity Street Asset Management LLP grew its stake in shares of HDFC Bank by 7.4% in the fourth quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank’s stock worth $234,641,000 after purchasing an additional 252,600 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of HDFC Bank by 21.1% during the 3rd quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock valued at $71,559,000 after buying an additional 199,582 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of HDFC Bank by 60.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank’s stock valued at $19,830,000 after acquiring an additional 119,050 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake in shares of HDFC Bank by 34.7% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 137,015 shares of the bank’s stock valued at $8,572,000 after acquiring an additional 35,291 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in HDFC Bank by 13.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock worth $15,114,000 after buying an additional 28,500 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Down 1.4 %

Shares of HDFC Bank stock opened at $59.78 on Wednesday. HDFC Bank Limited has a 1 year low of $54.07 and a 1 year high of $68.50. The business has a 50-day moving average of $60.69 and a two-hundred day moving average of $62.47. The company has a market capitalization of $151.37 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 2.12 and a beta of 0.91. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. As a group, equities analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HDB shares. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

HDFC Bank Company 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.