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

Principal Financial Group Inc. raised its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 31.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 quarter.

A number of other hedge funds have also recently modified their holdings of HDB. Franklin Resources Inc. grew its stake in shares of HDFC Bank by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank's stock worth $420,477,000 after buying an additional 560,880 shares during the last quarter. Peapack Gladstone Financial Corp purchased a new stake in shares of HDFC Bank in the third quarter worth $353,000. Synovus Financial Corp increased its holdings in shares of HDFC Bank by 0.8% during the third quarter. Synovus Financial Corp now owns 89,591 shares of the bank's stock valued at $5,605,000 after acquiring an additional 711 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of HDFC Bank by 9.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,557 shares of the bank's stock worth $1,971,000 after purchasing an additional 2,536 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in HDFC Bank in the 3rd quarter worth about $985,000. Institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Down 2.4 %

NYSE HDB traded down $1.52 during mid-day trading on Friday, reaching $62.54. The stock had a trading volume of 1,998,108 shares, compared to its average volume of 1,729,154. The stock has a market cap of $158.37 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $68.50. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. The company has a fifty day moving average price of $64.88 and a 200 day moving average price of $62.86.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.84 billion. On average, research analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of HDFC Bank from a "hold" rating to a "sell" rating in a research note on Wednesday, November 27th.

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.