44,903 Shares in HSBC Holdings plc (NYSE:HSBC) Purchased by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors acquired a new position of 44,903 shares in HSBC Holdings plc, valued at approximately $2.58 million, during the first quarter.
• HSBC's stock has a consensus target price of $63.00, with a current trading price of $61.27, and the company reported earnings per share (EPS) of $1.95 for the last quarter, exceeding estimates.
• The firm also declared a dividend of $0.495, with a yield of 350.0%, and has a payout ratio of 39.21% as of the last dividend payment on June 20th.

Arkadios Wealth Advisors purchased a new position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 44,903 shares of the financial services provider's stock, valued at approximately $2,579,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HSBC. Thrivent Financial for Lutherans raised its position in shares of HSBC by 5.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,618 shares of the financial services provider's stock worth $377,000 after purchasing an additional 417 shares during the period. LPL Financial LLC raised its holdings in HSBC by 23.2% during the fourth quarter. LPL Financial LLC now owns 153,518 shares of the financial services provider's stock worth $7,593,000 after buying an additional 28,875 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in HSBC by 79.8% during the fourth quarter. JPMorgan Chase & Co. now owns 102,207 shares of the financial services provider's stock worth $5,055,000 after buying an additional 45,347 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of HSBC by 23.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 41,933 shares of the financial services provider's stock valued at $2,074,000 after buying an additional 7,908 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of HSBC during the fourth quarter worth about $3,998,000. Institutional investors own 1.48% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Bank of America reaffirmed a "neutral" rating and issued a $63.00 price target on shares of HSBC in a research report on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $63.00.

HSBC Stock Up 0.1%

NYSE:HSBC traded up $0.05 during trading hours on Friday, hitting $61.35. 1,758,702 shares of the company traded hands, compared to its average volume of 1,534,078. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The company has a market cap of $214.20 billion, a PE ratio of 12.15, a PEG ratio of 1.39 and a beta of 0.60. The firm's 50-day simple moving average is $60.98 and its 200-day simple moving average is $57.09. HSBC Holdings plc has a one year low of $39.42 and a one year high of $65.75.

HSBC (NYSE:HSBC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The company had revenue of $16.90 billion for the quarter, compared to analyst estimates of $16.64 billion. Equities analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 12th were given a dividend of $0.495 per share. This represents a dividend yield of 350.0%. The ex-dividend date of this dividend was Friday, May 9th. HSBC's dividend payout ratio (DPR) is presently 39.21%.

HSBC Profile

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.