HDFC Bank Limited $HDB Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in HDFC Bank Limited (NYSE:HDB) by 85.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,324 shares of the bank’s stock after acquiring an additional 48,899 shares during the quarter. Principal Financial Group Inc.’s holdings in HDFC Bank were worth $3,632,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HDB. NewEdge Advisors LLC boosted its holdings in HDFC Bank by 8.6% in the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after purchasing an additional 922 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of HDFC Bank by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after buying an additional 13,435 shares during the period. Sivia Capital Partners LLC grew its position in shares of HDFC Bank by 24.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock valued at $601,000 after buying an additional 1,541 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in HDFC Bank during the second quarter worth about $1,244,000. Finally, Calamos Wealth Management LLC raised its stake in HDFC Bank by 5.8% during the second quarter. Calamos Wealth Management LLC now owns 15,965 shares of the bank’s stock worth $1,224,000 after acquiring an additional 877 shares during the period. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Trading Down 1.2%

Shares of NYSE:HDB opened at $32.47 on Tuesday. The firm’s 50 day moving average is $34.15 and its two-hundred day moving average is $35.38. The firm has a market capitalization of $165.65 billion, a P/E ratio of 19.50, a PEG ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a 52 week low of $29.23 and a 52 week high of $39.81.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%.The business had revenue of $16.48 billion during the quarter, compared to analyst estimates of $5.12 billion. Analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on HDB. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

HDFC Bank Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).