Mission Wealth Management LP lowered its position in HSBC Holdings plc (NYSE:HSBC – Free Report) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,864 shares of the financial services provider’s stock after selling 298 shares during the quarter. Mission Wealth Management LP’s holdings in HSBC were worth $509,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Orion Portfolio Solutions LLC increased its position in shares of HSBC by 23.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 41,933 shares of the financial services provider’s stock valued at $2,074,000 after buying an additional 7,908 shares in the last quarter. National Bank of Canada FI increased its position in HSBC by 739.7% during the 4th quarter. National Bank of Canada FI now owns 15,577 shares of the financial services provider’s stock worth $770,000 after purchasing an additional 13,722 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in HSBC during the 4th quarter worth about $3,998,000. SVB Wealth LLC purchased a new stake in HSBC during the 4th quarter worth about $441,000. Finally, Charles Schwab Investment Management Inc. increased its position in HSBC by 21.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 261,135 shares of the financial services provider’s stock worth $12,916,000 after purchasing an additional 45,387 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on HSBC shares. UBS Group reiterated a “neutral” rating on shares of HSBC in a research report on Thursday, March 6th. Barclays upgraded HSBC from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Bank of America reiterated a “neutral” rating and set a $63.00 price objective on shares of HSBC in a research report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded HSBC from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.00.
HSBC Stock Up 1.1%
HSBC opened at $59.18 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $208.08 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The business has a 50-day moving average of $57.13 and a two-hundred day moving average of $54.25. HSBC Holdings plc has a 12 month low of $39.42 and a 12 month high of $61.88.
HSBC (NYSE:HSBC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.60 by $0.35. The company had revenue of $17.74 billion during the quarter, compared to analysts’ expectations of $16.60 billion. HSBC had a return on equity of 12.55% and a net margin of 14.55%. On average, research analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current year.
HSBC Dividend Announcement
The firm also recently declared a dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 12th will be issued a $0.495 dividend. This represents a yield of 3.5%. The ex-dividend date is Friday, May 9th. HSBC’s dividend payout ratio (DPR) is 36.33%.
HSBC Company Profile
HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.
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