ABC Arbitrage SA boosted its position in HSBC Holdings plc (NYSE:HSBC - Free Report) by 1,132.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 50,669 shares of the financial services provider's stock after purchasing an additional 46,559 shares during the period. ABC Arbitrage SA's holdings in HSBC were worth $2,910,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of 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 in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in HSBC in the 4th quarter worth about $3,998,000. Franklin Resources Inc. boosted its holdings in HSBC by 3.1% in the 4th quarter. Franklin Resources Inc. now owns 397,408 shares of the financial services provider's stock valued at $19,656,000 after purchasing an additional 11,864 shares during the period. National Bank of Canada FI grew its position in shares of HSBC by 739.7% during the 4th quarter. National Bank of Canada FI now owns 15,577 shares of the financial services provider's stock worth $770,000 after purchasing an additional 13,722 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of HSBC by 5.3% in the fourth quarter. Wells Fargo & Company MN now owns 289,887 shares of the financial services provider's stock valued at $14,338,000 after buying an additional 14,640 shares in the last quarter. Institutional investors own 1.48% of the company's stock.
HSBC Stock Performance
NYSE HSBC opened at $61.82 on Tuesday. HSBC Holdings plc has a 1 year low of $39.42 and a 1 year high of $65.75. The firm has a market capitalization of $215.83 billion, a price-to-earnings ratio of 12.24, a P/E/G 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. The firm's 50 day simple moving average is $61.07 and its 200 day simple moving average is $57.35.
HSBC (NYSE:HSBC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.33. The firm had revenue of $16.90 billion during the quarter, compared to analysts' expectations of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. As a group, research analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.
Analyst Ratings Changes
Separately, Bank of America restated a "neutral" rating and set a $63.00 price objective on shares of HSBC in a research note on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $63.00.
Read Our Latest Analysis on HSBC
HSBC Profile
(
Free Report)
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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