6,072 Shares in HSBC Holdings plc (NYSE:HSBC) Bought by HB Wealth Management LLC

HB Wealth Management LLC acquired a new stake in HSBC Holdings plc (NYSE:HSBC - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,072 shares of the financial services provider's stock, valued at approximately $349,000.

A number of other large investors also recently modified their holdings of the business. Northern Trust Corp lifted its holdings in HSBC by 52.0% during the 4th quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider's stock valued at $137,563,000 after purchasing an additional 951,050 shares during the last quarter. GAMMA Investing LLC raised its position in shares of HSBC by 7,061.5% in the 1st quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider's stock valued at $321,210,000 after buying an additional 551,501 shares in the last quarter. FMR LLC raised its holdings in shares of HSBC by 18.1% during the 4th quarter. FMR LLC now owns 2,883,238 shares of the financial services provider's stock worth $142,605,000 after buying an additional 441,033 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in HSBC in the fourth quarter valued at approximately $17,815,000. Finally, Contrarian Capital Management L.L.C. acquired a new position in HSBC in the 4th quarter worth about $11,914,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Price Performance

HSBC stock opened at $61.35 on Friday. The firm has a 50 day moving average of $61.02 and a 200-day moving average of $57.17. The firm has a market capitalization of $214.20 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.39 and a beta of 0.60. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a 12 month low of $39.42 and a 12 month high of $65.75.

HSBC (NYSE:HSBC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The firm had revenue of $16.90 billion for the quarter, compared to analysts' expectations of $16.64 billion. As a group, sell-side analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Bank of America restated a "neutral" rating and issued a $63.00 price objective on shares of HSBC in a report on Tuesday, June 3rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $63.00.

HSBC Company 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.

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