Lake Street Advisors Group LLC increased its holdings in shares of HSBC Holdings plc (NYSE:HSBC – Free Report) by 8.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,786 shares of the financial services provider’s stock after acquiring an additional 2,173 shares during the quarter. Lake Street Advisors Group LLC’s holdings in HSBC were worth $1,101,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in HSBC. Syverson Strege & Co acquired a new position in HSBC in the 1st quarter valued at $26,000. EverSource Wealth Advisors LLC grew its holdings in HSBC by 231.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 816 shares of the financial services provider’s stock valued at $32,000 after buying an additional 570 shares in the last quarter. Column Capital Advisors LLC lifted its position in shares of HSBC by 40.1% during the 1st quarter. Column Capital Advisors LLC now owns 1,006 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 288 shares during the period. IFP Advisors Inc lifted its position in shares of HSBC by 71.2% during the 2nd quarter. IFP Advisors Inc now owns 1,027 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 427 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of HSBC by 27.5% during the 1st quarter. Bessemer Group Inc. now owns 1,530 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 330 shares during the period. 1.48% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
HSBC has been the subject of a number of recent analyst reports. Societe Generale downgraded HSBC from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Morgan Stanley upped their price objective on HSBC from GBX 675 ($8.29) to GBX 722 ($8.87) in a research report on Tuesday, August 1st. UBS Group downgraded HSBC from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 29th. Royal Bank of Canada upped their price objective on HSBC from GBX 800 ($9.82) to GBX 825 ($10.13) in a research report on Monday, August 14th. Finally, Berenberg Bank upped their price objective on HSBC from GBX 780 ($9.58) to GBX 820 ($10.07) in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $811.00.
HSBC Trading Up 1.4 %
HSBC stock traded up $0.54 during trading hours on Friday, hitting $38.58. The stock had a trading volume of 1,994,390 shares, compared to its average volume of 2,009,105. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The stock has a market cap of $154.59 billion, a price-to-earnings ratio of 5.59, a P/E/G ratio of 0.30 and a beta of 0.60. HSBC Holdings plc has a one year low of $28.43 and a one year high of $42.47. The business’s 50 day simple moving average is $38.58 and its 200-day simple moving average is $38.78.
HSBC (NYSE:HSBC – Get Free Report) last issued its quarterly earnings results on Monday, October 30th. The financial services provider reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.07). The company had revenue of $34.11 billion during the quarter. HSBC had a net margin of 24.42% and a return on equity of 14.04%. During the same period last year, the firm posted $0.48 earnings per share. On average, equities analysts predict that HSBC Holdings plc will post 6.74 EPS for the current fiscal year.
HSBC Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, November 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.18%. HSBC’s payout ratio is 28.70%.
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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