Atlas Capital Advisors Inc. Increases Position in HSBC Holdings plc (NYSE:HSBC)

Key Points

• Atlas Capital Advisors Inc. increased its stake in HSBC Holdings plc by 501.3% during the 1st quarter, owning a total of 12,032 shares with a value of approximately $691,000.
• Several hedge funds, including JPMorgan Chase and Wells Fargo, also boosted their holdings in HSBC, showing a growing institutional interest in the company.
• A recent analyst report from Bank of America maintained a "neutral" rating on HSBC with a price target of $63.00, where five analysts currently rate the stock as a hold.

Atlas Capital Advisors Inc. lifted its stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 501.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,032 shares of the financial services provider's stock after purchasing an additional 10,031 shares during the period. Atlas Capital Advisors Inc.'s holdings in HSBC were worth $691,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HSBC. Wayfinding Financial LLC bought a new position in HSBC in the 1st quarter worth approximately $30,000. CoreCap Advisors LLC boosted its holdings in HSBC by 342.9% in the 4th quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider's stock worth $29,000 after buying an additional 456 shares during the period. Garde Capital Inc. bought a new position in HSBC in the 1st quarter worth approximately $43,000. Bessemer Group Inc. boosted its holdings in HSBC by 51.0% in the 1st quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock worth $50,000 after buying an additional 292 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in HSBC by 32.1% in the 1st quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock worth $59,000 after buying an additional 249 shares during the period. Hedge funds and other institutional investors own 1.48% of the company's stock.

HSBC Price Performance

NYSE:HSBC traded up $0.45 during trading hours on Tuesday, hitting $64.65. The stock had a trading volume of 76,890 shares, compared to its average volume of 2,104,539. The company has a 50 day simple moving average of $61.45 and a two-hundred day simple moving average of $57.76. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.93. HSBC Holdings plc has a one year low of $41.68 and a one year high of $65.75. The firm has a market capitalization of $225.70 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 1.42 and a beta of 0.60.

HSBC (NYSE:HSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating 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 company had revenue of $16.90 billion for the quarter, compared to analysts' expectations of $16.64 billion. Research analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, September 26th. Investors of record on Monday, August 18th will be given a dividend of $0.495 per share. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 308.0%. HSBC's payout ratio is currently 39.21%.

Wall Street Analysts Forecast Growth

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