HDFC Bank Limited (NYSE:HDB) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in HDFC Bank Limited (NYSE:HDB) by 31.5% in the third quarter, Holdings Channel.com reports. The fund owned 47,225 shares of the bank’s stock after acquiring 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.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Temasek Holdings Private Ltd increased its holdings in shares of HDFC Bank by 1.6% in the 3rd quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock valued at $523,453,000 after purchasing an additional 132,445 shares during the period. FMR LLC boosted its position in shares of 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 acquiring an additional 1,114,210 shares during the period. Franklin Resources Inc. boosted its position in shares of HDFC Bank by 9.0% in the third quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock valued at $420,477,000 after acquiring an additional 560,880 shares during the period. Wellington Management Group LLP boosted its position in shares of HDFC Bank by 2.2% in the third quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock valued at $317,141,000 after acquiring an additional 108,312 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in HDFC Bank by 1.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank’s stock worth $302,970,000 after purchasing an additional 51,736 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $62.54 on Friday. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $68.50. The firm 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. 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 business has a fifty day moving average of $64.90 and a 200-day moving average of $62.85.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $4.84 billion. On average, equities research analysts predict that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com lowered 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.