Advisors Preferred LLC Takes Position in HSBC Holdings plc (NYSE:HSBC)

Advisors Preferred LLC acquired a new stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,040 shares of the financial services provider's stock, valued at approximately $632,000.

Other large investors also recently modified their holdings of the company. FMR LLC grew its holdings in shares of HSBC by 18.1% in the fourth quarter. FMR LLC now owns 2,883,238 shares of the financial services provider's stock worth $142,605,000 after purchasing an additional 441,033 shares during the last quarter. Northern Trust Corp grew its holdings in shares of HSBC by 52.0% in the fourth quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider's stock worth $137,563,000 after purchasing an additional 951,050 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of HSBC by 4.5% in the fourth quarter. American Century Companies Inc. now owns 937,065 shares of the financial services provider's stock worth $46,347,000 after purchasing an additional 40,388 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of HSBC by 7,061.5% in the first quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider's stock worth $321,210,000 after purchasing an additional 551,501 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of HSBC by 26.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 401,960 shares of the financial services provider's stock worth $19,881,000 after purchasing an additional 85,104 shares during the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

HSBC Stock Performance

HSBC traded down $0.06 during midday trading on Friday, reaching $64.92. The company had a trading volume of 1,305,159 shares, compared to its average volume of 1,355,935. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average of $60.69 and a two-hundred day moving average of $56.76. The company has a market cap of $226.66 billion, a P/E ratio of 11.91, a P/E/G ratio of 2.04 and a beta of 0.57. HSBC Holdings plc has a 1 year low of $39.42 and a 1 year high of $65.75.

HSBC (NYSE:HSBC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.35. HSBC had a return on equity of 12.55% and a net margin of 14.55%. The business had revenue of $17.74 billion during the quarter, compared to analysts' expectations of $16.60 billion. As a group, equities research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The firm also recently announced 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 3.5%. The ex-dividend date of this dividend was Friday, May 9th. HSBC's dividend payout ratio is currently 36.33%.

Analysts Set New Price Targets

Separately, Bank of America reissued a "neutral" rating and set a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $63.00.

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.