Bleakley Financial Group LLC Acquires Shares of 12,561 HSBC Holdings plc $HSBC

Key Points

• Bleakley Financial Group disclosed a new fourth-quarter stake in HSBC Holdings, buying 12,561 shares valued at about $988,000.
• HSBC announced a quarterly dividend of $0.50 per share, or $2.00 annualized, for a yield of about 2.1%; the company’s payout ratio is 32.46%.
• Wall Street sentiment remains mixed, with recent analyst moves including downgrades from Zacks and BNP Paribas Exane, while the broader consensus rating is Hold with an average target price of $63.00.

Bleakley Financial Group LLC acquired a new stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,561 shares of the financial services provider's stock, valued at approximately $988,000.

A number of other large investors have also recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC purchased a new stake in HSBC during the third quarter valued at about $26,000. Binnacle Investments Inc raised its position in HSBC by 80.5% during the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 198 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in HSBC during the third quarter valued at about $41,000. Cornerstone Planning Group LLC raised its position in HSBC by 30.7% during the fourth quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 117 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in HSBC during the fourth quarter valued at about $43,000. 1.48% of the stock is owned by institutional investors.

Insider Activity at HSBC

In other news, insider Daniel Scott Palomaki sold 23,123 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total value of $418,757.53. Following the transaction, the insider directly owned 4,973 shares in the company, valued at approximately $90,061.03. This represents a 82.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.01% of the company's stock.

HSBC Stock Performance

HSBC stock opened at $93.70 on Friday. The company has a market capitalization of $322.00 billion, a PE ratio of 15.36, a P/E/G ratio of 0.93 and a beta of 0.56. The company has a 50 day moving average price of $88.23 and a 200-day moving average price of $83.26. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 0.92. HSBC Holdings plc has a fifty-two week low of $58.14 and a fifty-two week high of $95.22.

HSBC (NYSE:HSBC - Get Free Report) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share for the quarter. The company had revenue of $19.13 billion during the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. As a group, equities analysts forecast that HSBC Holdings plc will post 8.54 earnings per share for the current year.

HSBC Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 15th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, May 15th. HSBC's dividend payout ratio is currently 32.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HSBC shares. Zacks Research downgraded HSBC from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 5th. The Goldman Sachs Group began coverage on HSBC in a research report on Thursday, March 26th. They set a "buy" rating on the stock. BNP Paribas Exane cut HSBC from an "outperform" rating to a "neutral" rating in a research report on Tuesday, April 14th. Weiss Ratings lowered shares of HSBC from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of HSBC in a research note on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $63.00.

Key HSBC News

Here are the key news stories impacting HSBC this week:

• Positive Sentiment: HSBC was highlighted in reports on recent analyst calls, including Morgan Stanley raising its price target on HSBC Holdings, which can support sentiment around the stock. Here’s Why Morgan Stanley Raised the PT on HSBC Holdings (HSBC)
• Positive Sentiment: HSBC also drew attention for its role in investment-bank and markets commentary, including coverage of its outlook on Asia and Japan rate hikes, which suggests management and analysts see ongoing opportunities in key regions. What’s driving HSBC’s call for two BoJ hikes this year?
• Neutral Sentiment: HSBC Continental Europe issued a pre-stabilisation notice for a Swedbank Mortgage covered bond deal; this is a normal capital-markets role and is not likely to materially affect HSBC’s earnings outlook. HSBC Continental Europe: Pre Stabilisation Notice
• Neutral Sentiment: Other mentions, such as HSBC Private Bank’s investment priorities and HSBC-linked fund commentary, appear informational rather than stock-moving for HSBC Holdings itself. HSBC Private Bank reveals its four investment priorities
• Negative Sentiment: Recent consumer-facing headlines about HSBC ISA transfer delays and alleged account issues could weigh on sentiment by raising questions about customer service and operational controls, even if the incidents may be isolated. HSBC ISA transfer chaos: Some savers face six week delays while one says £20,000 disappeared

HSBC Company Profile

HSBC Holdings plc NYSE: HSBC is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world's largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

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