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

Principal Financial Group Inc. raised its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 31.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HDB. Ridgewood Investments LLC acquired a new position in HDFC Bank in the second quarter valued at approximately $36,000. Northwest Investment Counselors LLC acquired a new position in shares of HDFC Bank in the 3rd quarter valued at $38,000. JFS Wealth Advisors LLC grew its position in shares of HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank's stock valued at $42,000 after buying an additional 275 shares during the last quarter. LRI Investments LLC acquired a new stake in HDFC Bank during the 1st quarter worth $56,000. Finally, GAMMA Investing LLC lifted its position in HDFC Bank by 56.0% in the second quarter. GAMMA Investing LLC now owns 903 shares of the bank's stock valued at $58,000 after acquiring an additional 324 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

NYSE HDB traded up $0.92 on Friday, reaching $64.50. The stock had a trading volume of 3,146,367 shares, compared to its average volume of 1,923,843. The stock has a market cap of $163.33 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44. The business's 50-day moving average price is $63.03 and its 200 day moving average price is $61.17. 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 - Get Free Report) last released its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS 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 the consensus estimate of $4.84 billion. As a group, equities analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.