Balyasny Asset Management L.P. Takes $1.09 Million Position in HSBC Holdings plc (NYSE:HSBC)

Balyasny Asset Management L.P. acquired a new stake in HSBC Holdings plc (NYSE:HSBC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,101 shares of the financial services provider's stock, valued at approximately $1,093,000.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of HSBC by 103.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 56,860 shares of the financial services provider's stock valued at $2,570,000 after purchasing an additional 28,939 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of HSBC by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,909 shares of the financial services provider's stock valued at $990,000 after purchasing an additional 235 shares during the period. Cooper Financial Group boosted its position in shares of HSBC by 6.4% in the 4th quarter. Cooper Financial Group now owns 12,646 shares of the financial services provider's stock valued at $625,000 after purchasing an additional 759 shares during the period. Traveka Wealth LLC boosted its position in shares of HSBC by 7.4% in the 4th quarter. Traveka Wealth LLC now owns 9,833 shares of the financial services provider's stock valued at $486,000 after purchasing an additional 678 shares during the period. Finally, Ignite Planners LLC boosted its position in shares of HSBC by 2.7% in the 4th quarter. Ignite Planners LLC now owns 17,889 shares of the financial services provider's stock valued at $878,000 after purchasing an additional 462 shares during the period. Institutional investors and hedge funds own 1.48% of the company's stock.

HSBC Stock Up 0.1%

Shares of HSBC stock traded up $0.05 during trading on Friday, hitting $58.86. 1,751,796 shares of the stock traded hands, compared to its average volume of 1,727,942. The stock has a market cap of $208.06 billion, a P/E ratio of 9.49, a PEG ratio of 1.05 and a beta of 0.53. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88. HSBC Holdings plc has a twelve month low of $39.42 and a twelve month high of $61.88. The company has a fifty day moving average price of $55.12 and a two-hundred day moving average price of $52.14.

HSBC (NYSE:HSBC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.35. The business had revenue of $17.74 billion during the quarter, compared to analyst estimates of $16.60 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. Equities research analysts predict that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 12th will be issued a dividend of $0.495 per share. This represents a dividend yield of 3.5%. The ex-dividend date is Friday, May 9th. HSBC's dividend payout ratio is 36.33%.

Analysts Set New Price Targets

A number of research firms recently weighed in on HSBC. StockNews.com upgraded HSBC from a "sell" rating to a "hold" rating in a research report on Tuesday, March 11th. Royal Bank of Canada reissued a "sector perform" rating on shares of HSBC in a research note on Monday, February 3rd. UBS Group reissued a "neutral" rating on shares of HSBC in a research note on Thursday, March 6th. Barclays raised HSBC from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded HSBC from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

About HSBC

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.