HSBC Holdings plc (NYSE:HSBC) Shares Purchased by Raymond James & Associates

Raymond James & Associates boosted its holdings in HSBC Holdings plc (NYSE:HSBC – Get Rating) by 20.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 178,896 shares of the financial services provider’s stock after buying an additional 30,065 shares during the quarter. Raymond James & Associates’ holdings in HSBC were worth $5,574,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HSBC. Belpointe Asset Management LLC purchased a new position in HSBC during the 4th quarter worth approximately $50,000. Oppenheimer & Co. Inc. boosted its stake in shares of HSBC by 1.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 37,017 shares of the financial services provider’s stock valued at $1,153,000 after buying an additional 443 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of HSBC by 1.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 29,493 shares of the financial services provider’s stock valued at $919,000 after buying an additional 299 shares during the period. LPL Financial LLC boosted its stake in shares of HSBC by 1.3% during the 4th quarter. LPL Financial LLC now owns 74,364 shares of the financial services provider’s stock valued at $2,317,000 after buying an additional 976 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of HSBC by 314.9% during the 4th quarter. IFP Advisors Inc now owns 8,792 shares of the financial services provider’s stock valued at $470,000 after buying an additional 6,673 shares during the period. Institutional investors and hedge funds own 1.26% of the company’s stock.

Analysts Set New Price Targets

HSBC has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of HSBC from GBX 650 ($8.08) to GBX 630 ($7.84) in a report on Tuesday, April 18th. Berenberg Bank upgraded shares of HSBC from a “hold” rating to a “buy” rating in a report on Wednesday, May 3rd. Citigroup boosted their price objective on shares of HSBC from GBX 650 ($8.08) to GBX 730 ($9.08) in a report on Thursday, May 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of HSBC from GBX 880 ($10.95) to GBX 1,000 ($12.44) in a report on Wednesday, May 3rd. Finally, Barclays boosted their price objective on shares of HSBC from GBX 840 ($10.45) to GBX 900 ($11.19) in a report on Wednesday, May 3rd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, HSBC presently has an average rating of “Hold” and an average target price of $729.60.

HSBC Price Performance

NYSE:HSBC opened at $38.53 on Tuesday. The firm has a market cap of $153.96 billion, a PE ratio of 6.91, a price-to-earnings-growth ratio of 0.30 and a beta of 0.58. HSBC Holdings plc has a 12 month low of $24.77 and a 12 month high of $39.63. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $35.75 and its two-hundred day moving average price is $34.23.

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

HSBC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, May 12th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, May 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.19%. HSBC’s payout ratio is 37.46%.

About HSBC

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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.