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

Principal Financial Group Inc. increased its stake in HDFC Bank Limited (NYSE:HDB) by 18.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,425 shares of the bank’s stock after acquiring an additional 8,746 shares during the quarter. Principal Financial Group Inc.’s holdings in HDFC Bank were worth $3,815,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FIL Ltd boosted its position in shares of HDFC Bank by 17.5% during the 4th quarter. FIL Ltd now owns 17,467,131 shares of the bank’s stock valued at $1,115,451,000 after acquiring an additional 2,599,337 shares during the last quarter. Temasek Holdings Private Ltd increased its stake in HDFC Bank by 2.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank’s stock worth $546,500,000 after purchasing an additional 190,566 shares during the period. GQG Partners LLC increased its stake in HDFC Bank by 74.4% during the fourth quarter. GQG Partners LLC now owns 7,883,347 shares of the bank’s stock worth $503,431,000 after purchasing an additional 3,364,114 shares during the period. FMR LLC increased its stake in HDFC Bank by 13.3% during the fourth quarter. FMR LLC now owns 7,793,113 shares of the bank’s stock worth $497,668,000 after purchasing an additional 914,289 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of HDFC Bank by 43.0% during the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank’s stock worth $466,629,000 after buying an additional 2,196,315 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Up 0.6%

Shares of NYSE:HDB opened at $76.16 on Friday. The firm has a market cap of $192.85 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 1.87 and a beta of 0.64. HDFC Bank Limited has a 12-month low of $57.24 and a 12-month 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’s 50-day moving average price is $74.95 and its two-hundred day moving average price is $67.59.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $434.68 billion. On average, research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th.

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.