6,800 Shares in HSBC Holdings plc $HSBC Bought by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC invested approximately $391,000 to acquire 6,800 shares of HSBC Holdings plc in the first quarter, signaling institutional confidence in the financial services provider.
• Several institutional investors, including Contrarian Capital Management and GAMMA Investing LLC, made significant increases in their positions in HSBC, while institutional ownership now stands at 1.48%.
• HSBC's quarterly earnings surpassed estimates, with an EPS of $1.95 and revenues of $16.90 billion, and the company has announced a quarterly dividend of $0.495 to be paid on September 26.

Belpointe Asset Management LLC purchased a new stake in HSBC Holdings plc (NYSE:HSBC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,800 shares of the financial services provider's stock, valued at approximately $391,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of HSBC in the first quarter valued at approximately $30,000. Garde Capital Inc. acquired a new stake in HSBC during the 1st quarter worth $43,000. Elequin Capital LP grew its holdings in HSBC by 282.2% during the 1st quarter. Elequin Capital LP now owns 772 shares of the financial services provider's stock worth $44,000 after acquiring an additional 570 shares during the period. Bessemer Group Inc. grew its holdings in HSBC by 51.0% during the 1st quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock worth $50,000 after acquiring an additional 292 shares during the period. Finally, Larson Financial Group LLC grew its holdings in HSBC by 32.1% during the 1st quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock worth $59,000 after acquiring an additional 249 shares during the period. Institutional investors and hedge funds own 1.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on HSBC shares. Bank of America reaffirmed a "neutral" rating and set a $63.00 target price on shares of HSBC in a report on Tuesday, June 3rd. BNP Paribas raised shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, BNP Paribas Exane raised shares of HSBC from an "underperform" rating to an "outperform" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.00.

HSBC Stock Up 0.3%

Shares of NYSE HSBC traded up $0.24 during mid-day trading on Friday, reaching $69.74. 944,672 shares of the company's stock were exchanged, compared to its average volume of 1,254,655. The firm has a market capitalization of $242.03 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.55 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 business has a fifty day simple moving average of $64.89 and a 200 day simple moving average of $59.93. HSBC Holdings plc has a twelve month low of $43.81 and a twelve month high of $69.94.

HSBC (NYSE:HSBC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share 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 analyst estimates of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. As a group, equities analysts expect that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 15th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. HSBC's dividend payout ratio is presently 39.21%.

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.