Principal Financial Group Inc. Buys 8,746 Shares of HDFC Bank Limited (NYSE:HDB)

Principal Financial Group Inc. increased its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 18.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,425 shares of the bank's stock after purchasing an additional 8,746 shares during the period. Principal Financial Group Inc.'s holdings in HDFC Bank were worth $3,815,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GQG Partners LLC boosted its stake in shares of HDFC Bank by 74.4% during the 4th quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock valued at $503,431,000 after buying an additional 3,364,114 shares during the period. Schroder Investment Management Group lifted its stake in shares of HDFC Bank by 82.1% in the 4th quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank's stock valued at $447,584,000 after purchasing an additional 3,160,533 shares during the last quarter. FIL Ltd lifted its stake in shares of HDFC Bank by 17.5% in the 4th quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock valued at $1,115,451,000 after purchasing an additional 2,599,337 shares during the last quarter. Royal Bank of Canada raised its holdings in HDFC Bank by 43.0% in the 4th quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock worth $466,629,000 after acquiring an additional 2,196,315 shares during the period. Finally, National Bank of Canada FI raised its holdings in HDFC Bank by 3,535.1% in the 4th quarter. National Bank of Canada FI now owns 1,921,668 shares of the bank's stock worth $122,718,000 after acquiring an additional 1,868,804 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th.

HDFC Bank Trading Down 1.1%

HDB traded down $0.84 during trading on Friday, reaching $75.30. 2,937,761 shares of the company's stock were exchanged, compared to its average volume of 2,699,044. HDFC Bank Limited has a one year low of $57.24 and a one year high of $78.14. The company has a current ratio of 0.07, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $190.68 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 1.86 and a beta of 0.64. The firm has a fifty day moving average price of $75.04 and a two-hundred day moving average price of $67.70.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $434.68 billion. HDFC Bank had a net margin of 15.02% and a return on equity of 13.85%. As a group, equities research analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

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.