Aprio Wealth Management LLC Has $1.23 Million Stock Position in HSBC Holdings plc $HSBC

Key Points

• Aprio Wealth Management LLC increased its stake in HSBC Holdings plc by 24.3% during the first quarter, totaling $1.23 million in worth.
• HSBC reported a quarterly earnings per share (EPS) of $1.95, surpassing the estimated EPS of $1.62, with total revenue of $16.90 billion.
• The company declared a dividend of $0.495 per share, representing a 3.1% dividend yield and an annual payout ratio of 39.21%.

Aprio Wealth Management LLC lifted its holdings in HSBC Holdings plc (NYSE:HSBC - Free Report) by 24.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,454 shares of the financial services provider's stock after acquiring an additional 4,194 shares during the quarter. Aprio Wealth Management LLC's holdings in HSBC were worth $1,232,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HSBC. Northern Trust Corp raised its position in HSBC by 3.3% in the 1st quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider's stock worth $165,002,000 after purchasing an additional 91,789 shares during the last quarter. Contrarian Capital Management L.L.C. increased its position in shares of HSBC by 425.4% in the 1st quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider's stock valued at $72,687,000 after buying an additional 1,024,780 shares in the last quarter. Royal Bank of Canada increased its position in shares of HSBC by 18.7% in the 1st quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider's stock valued at $60,155,000 after buying an additional 164,915 shares in the last quarter. American Century Companies Inc. increased its position in shares of HSBC by 9.1% in the 1st quarter. American Century Companies Inc. now owns 1,022,231 shares of the financial services provider's stock valued at $58,707,000 after buying an additional 85,166 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in HSBC by 7,061.5% during the 1st 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 in the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Stock Down 0.6%

Shares of HSBC opened at $64.08 on Wednesday. HSBC Holdings plc has a 12 month low of $42.38 and a 12 month high of $66.05. The stock has a market capitalization of $223.73 billion, a PE ratio of 12.69, a P/E/G ratio of 1.44 and a beta of 0.65. 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 moving average is $63.16 and its 200-day moving average is $59.03.

HSBC (NYSE:HSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.62 by $0.33. The business had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. Equities research analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, August 15th. HSBC's payout ratio is presently 39.21%.

Analysts Set New Price Targets

Separately, Bank of America reiterated a "neutral" rating and set a $63.00 target price on shares of HSBC in a report on Tuesday, June 3rd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average 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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