Callan Family Office LLC Has $1.08 Million Stock Position in HSBC Holdings plc (NYSE:HSBC)

Key Points

• Callan Family Office LLC reduced its stake in HSBC Holdings plc by 24.8%, selling 6,228 shares, leaving them with 18,877 shares valued at approximately $1.08 million.
• HSBC reported earnings per share of $1.95 for the last quarter, surpassing expectations; analysts predict the bank will achieve 6.66 EPS this year.
• The bank recently declared a dividend of $0.495 per share, with a significant dividend yield of 308.0% set to be paid out on September 26th.

Callan Family Office LLC trimmed its stake in HSBC Holdings plc (NYSE:HSBC - Free Report) by 24.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,877 shares of the financial services provider's stock after selling 6,228 shares during the period. Callan Family Office LLC's holdings in HSBC were worth $1,084,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Westover Capital Advisors LLC boosted its stake in HSBC by 2.5% in the 1st quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider's stock valued at $468,000 after buying an additional 200 shares in the last quarter. GeoWealth Management LLC boosted its stake in HSBC by 6.7% in the fourth quarter. GeoWealth Management LLC now owns 3,279 shares of the financial services provider's stock worth $162,000 after purchasing an additional 205 shares in the last quarter. Lido Advisors LLC raised its position in shares of HSBC by 3.4% during the fourth quarter. Lido Advisors LLC now owns 7,531 shares of the financial services provider's stock worth $372,000 after acquiring an additional 249 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of HSBC by 32.1% during the first 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 last quarter. Finally, BNP Paribas Financial Markets boosted its stake in HSBC by 0.3% in the fourth quarter. BNP Paribas Financial Markets now owns 93,929 shares of the financial services provider's stock valued at $4,646,000 after acquiring an additional 254 shares during the last quarter. 1.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Bank of America reissued a "neutral" rating and issued 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 and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $63.00.

HSBC Stock Performance

Shares of NYSE HSBC traded down $1.94 during trading hours on Friday, reaching $63.83. 1,693,410 shares of the stock were exchanged, compared to its average volume of 2,102,464. The firm has a market capitalization of $222.86 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.45 and a beta of 0.60. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. HSBC Holdings plc has a 52 week low of $42.38 and a 52 week high of $65.77. The stock's fifty day simple moving average is $61.80 and its 200 day simple moving average is $57.96.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.33. The firm had revenue of $16.90 billion for the quarter, compared to analyst estimates of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. Sell-side analysts predict that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Dividend Announcement

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

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.