HL Financial Services LLC acquired a new stake in HSBC Holdings PLC (NYSE:HSBC) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 24,501 shares of the financial services provider’s stock, valued at approximately $1,137,000.
A number of other large investors have also made changes to their positions in the company. Raymond James Trust N.A. raised its position in shares of HSBC Holdings PLC by 39.3% in the first quarter. Raymond James Trust N.A. now owns 8,976 shares of the financial services provider’s stock valued at $367,000 after buying an additional 2,531 shares during the last quarter. Gradient Investments LLC raised its position in shares of HSBC Holdings PLC by 3,252.7% in the first quarter. Gradient Investments LLC now owns 6,303 shares of the financial services provider’s stock valued at $257,000 after buying an additional 6,115 shares during the last quarter. Atria Investments LLC raised its position in shares of HSBC Holdings PLC by 7.3% in the first quarter. Atria Investments LLC now owns 17,059 shares of the financial services provider’s stock valued at $696,000 after buying an additional 1,157 shares during the last quarter. Telemus Capital LLC raised its position in shares of HSBC Holdings PLC by 24.9% in the first quarter. Telemus Capital LLC now owns 12,610 shares of the financial services provider’s stock valued at $515,000 after buying an additional 2,511 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of HSBC Holdings PLC during the first quarter valued at $394,000. 2.33% of the stock is owned by hedge funds and other institutional investors.
HSBC Holdings PLC (HSBC) opened at 48.19 on Friday. The firm has a market cap of $195.36 billion, a price-to-earnings ratio of 98.35 and a beta of 0.89. The stock’s 50 day moving average price is $47.85 and its 200-day moving average price is $43.54. HSBC Holdings PLC has a one year low of $35.14 and a one year high of $50.86.
HSBC Holdings PLC (NYSE:HSBC) last released its earnings results on Monday, July 31st. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. HSBC Holdings PLC had a return on equity of 2.08% and a net margin of 1.42%. The business had revenue of $13.17 billion for the quarter. Analysts forecast that HSBC Holdings PLC will post $2.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Friday, August 4th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 2nd. This represents a $2.00 annualized dividend and a yield of 4.15%. HSBC Holdings PLC’s payout ratio is presently 400.01%.
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Several brokerages have weighed in on HSBC. Zacks Investment Research raised HSBC Holdings PLC from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, August 2nd. BidaskClub raised HSBC Holdings PLC from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Berenberg Bank lowered HSBC Holdings PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Morgan Stanley raised HSBC Holdings PLC from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 28th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. HSBC Holdings PLC presently has an average rating of “Hold” and a consensus price target of $36.67.
About HSBC Holdings PLC
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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