180,475 Shares in HSBC Holdings plc $HSBC Acquired by Foresight Global Investors Inc.

Key Points

• Foresight Global Investors bought a new stake of 180,475 shares of HSBC worth about $12.81 million, representing roughly 7.6% of Foresight's holdings and making HSBC its sixth-largest position.
• HSBC announced a materially higher quarterly dividend of $2.25 (annualized $9.00), implying a 10.5% yield
• In the latest quarter HSBC missed EPS (reported $0.37 vs. $1.60 expected) while revenues beat ($17.72B vs. $17.01B), and analysts have a consensus rating of “Moderate Buy” with a target price of $63.00.

Foresight Global Investors Inc. acquired a new stake in HSBC Holdings plc (NYSE:HSBC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 180,475 shares of the financial services provider's stock, valued at approximately $12,810,000. HSBC makes up approximately 7.6% of Foresight Global Investors Inc.'s holdings, making the stock its 6th largest position.

A number of other institutional investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC raised its holdings in shares of HSBC by 9.2% during the second quarter. Fisher Asset Management LLC now owns 17,043,371 shares of the financial services provider's stock worth $1,036,067,000 after acquiring an additional 1,430,797 shares during the period. JPMorgan Chase & Co. boosted its position in HSBC by 160.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 502,200 shares of the financial services provider's stock worth $30,529,000 after acquiring an additional 309,738 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in HSBC by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 10,575,644 shares of the financial services provider's stock worth $750,659,000 after purchasing an additional 185,073 shares during the last quarter. American Century Companies Inc. increased its stake in HSBC by 14.7% in the 3rd quarter. American Century Companies Inc. now owns 1,311,820 shares of the financial services provider's stock valued at $93,113,000 after buying an additional 168,438 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in HSBC by 175.6% during the 2nd quarter. Bank of Montreal Can now owns 209,666 shares of the financial services provider's stock worth $12,746,000 after buying an additional 133,591 shares in the last quarter. Institutional investors own 1.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HSBC shares. Weiss Ratings restated a "hold (c+)" rating on shares of HSBC in a research note on Monday, December 29th. Erste Group Bank raised shares of HSBC from a "hold" rating to a "buy" rating in a research report on Thursday, November 20th. Morgan Stanley started coverage on shares of HSBC in a research note on Wednesday, January 14th. They issued an "equal weight" rating for the company. Citigroup reaffirmed a "buy" rating on shares of HSBC in a research report on Friday, January 9th. Finally, Bank of America raised HSBC from a "neutral" rating to a "buy" rating in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

HSBC Price Performance

Shares of HSBC stock opened at $85.77 on Friday. The company has a 50-day simple moving average of $85.38 and a two-hundred day simple moving average of $75.19. HSBC Holdings plc has a twelve month low of $45.66 and a twelve month high of $94.79. The stock has a market capitalization of $294.62 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 0.95 and a beta of 0.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.62.

HSBC (NYSE:HSBC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.60 by ($1.23). HSBC had a return on equity of 13.10% and a net margin of 16.07%.The company had revenue of $17.72 billion for the quarter, compared to analyst estimates of $17.01 billion. Analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 13th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 10.5%. This is a positive change from HSBC's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 13th. HSBC's payout ratio is 32.73%.

HSBC Company Profile

HSBC Holdings plc NYSE: HSBC is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world's largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

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