LPL Financial LLC Has $2.32 Million Stock Position in HSBC Holdings plc (NYSE:HSBC)

LPL Financial LLC lifted its stake in HSBC Holdings plc (NYSE:HSBC – Get Rating) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 74,364 shares of the financial services provider’s stock after acquiring an additional 976 shares during the quarter. LPL Financial LLC’s holdings in HSBC were worth $2,317,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its position in shares of HSBC by 118.8% in the third quarter. Envestnet Asset Management Inc. now owns 469,434 shares of the financial services provider’s stock valued at $12,238,000 after buying an additional 254,841 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of HSBC by 7.0% during the 3rd quarter. Evergreen Capital Management LLC now owns 16,696 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 1,095 shares during the period. Gallacher Capital Management LLC acquired a new stake in shares of HSBC during the 4th quarter worth $283,000. Ritholtz Wealth Management grew its holdings in shares of HSBC by 7.6% during the 4th quarter. Ritholtz Wealth Management now owns 34,295 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 2,422 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in shares of HSBC during the 4th quarter worth $675,000. Institutional investors and hedge funds own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. StockNews.com initiated coverage on HSBC in a report on Thursday. They set a “hold” rating on the stock. Citigroup increased their price target on shares of HSBC from GBX 650 ($8.14) to GBX 730 ($9.14) in a research report on Thursday, May 4th. Royal Bank of Canada increased their price target on shares of HSBC from GBX 775 ($9.71) to GBX 800 ($10.02) in a research report on Wednesday, May 10th. Barclays raised their price objective on HSBC from GBX 840 ($10.52) to GBX 900 ($11.27) in a research note on Wednesday, May 3rd. Finally, Morgan Stanley reduced their price objective on HSBC from GBX 683 ($8.56) to GBX 671 ($8.41) in a research note on Wednesday, April 19th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $729.60.

HSBC Stock Performance

Shares of HSBC stock opened at $38.32 on Monday. The firm has a market capitalization of $153.12 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 0.30 and a beta of 0.58. The business’s 50-day moving average price is $35.67 and its 200-day moving average price is $34.14. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. HSBC Holdings plc has a 12 month low of $24.77 and a 12 month high of $39.63.

HSBC (NYSE:HSBC – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The financial services provider reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.02). The business had revenue of $15.35 billion for the quarter, compared to analyst estimates of $14.28 billion. HSBC had a return on equity of 11.52% and a net margin of 32.20%. Equities research analysts forecast that HSBC Holdings plc will post 6.96 EPS for the current year.

HSBC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, May 12th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $2.00 annualized dividend and a yield of 5.22%. HSBC’s payout ratio is 37.46%.

HSBC Profile

(Get Rating)

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.