Bank of New York Mellon Corp Has $15.93 Million Holdings in HSBC Holdings plc (NYSE:HSBC)

Bank of New York Mellon Corp reduced its position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 277,429 shares of the financial services provider's stock after selling 70,136 shares during the period. Bank of New York Mellon Corp's holdings in HSBC were worth $15,933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HSBC. FMR LLC grew its stake in shares of HSBC by 18.1% in the 4th quarter. FMR LLC now owns 2,883,238 shares of the financial services provider's stock worth $142,605,000 after acquiring an additional 441,033 shares in the last quarter. Northern Trust Corp increased 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 period. American Century Companies Inc. raised its stake in 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 buying an additional 40,388 shares in the last quarter. GAMMA Investing LLC boosted its stake in HSBC by 7,061.5% during the first quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider's stock worth $321,210,000 after acquiring an additional 551,501 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in HSBC by 26.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 401,960 shares of the financial services provider's stock valued at $19,881,000 after acquiring an additional 85,104 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors.

HSBC Stock Down 0.7%

Shares of HSBC stock opened at $62.82 on Friday. HSBC Holdings plc has a 52-week low of $39.42 and a 52-week high of $63.28. The firm's 50 day moving average price is $60.09 and its 200-day moving average price is $56.22. 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 company has a market cap of $219.33 billion, a P/E ratio of 11.53, a PEG ratio of 1.98 and a beta of 0.57.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.35. The business had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $16.60 billion. HSBC had a return on equity of 12.55% and a net margin of 14.55%. On average, sell-side analysts predict that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The business also recently declared a dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 12th were paid a $0.495 dividend. The ex-dividend date was Friday, May 9th. This represents a yield of 3.5%. HSBC's dividend payout ratio is currently 36.33%.

Wall Street Analysts Forecast Growth

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 equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $63.00.

About HSBC

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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