Charles Schwab Investment Management Inc. grew its stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299,463 shares of the financial services provider's stock after buying an additional 38,328 shares during the period. Charles Schwab Investment Management Inc.'s holdings in HSBC were worth $17,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of the stock. Westover Capital Advisors LLC increased its holdings in shares of HSBC by 2.5% in the 1st quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider's stock worth $468,000 after buying an additional 200 shares during the last quarter. Lido Advisors LLC lifted its stake in shares of HSBC by 3.4% in the 4th quarter. Lido Advisors LLC now owns 7,531 shares of the financial services provider's stock valued at $372,000 after purchasing an additional 249 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of 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 purchasing an additional 249 shares during the period. BNP Paribas Financial Markets raised its holdings in HSBC by 0.3% during the 4th quarter. BNP Paribas Financial Markets now owns 93,929 shares of the financial services provider's stock valued at $4,646,000 after buying an additional 254 shares during the period. Finally, Vise Technologies Inc. lifted its position in HSBC by 1.4% in the fourth quarter. Vise Technologies Inc. now owns 20,203 shares of the financial services provider's stock worth $999,000 after buying an additional 270 shares during the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, Bank of America reiterated a "neutral" rating and set a $63.00 price target on shares of HSBC in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.00.
Check Out Our Latest Stock Analysis on HSBC
HSBC Stock Performance
HSBC stock traded down $0.90 during midday trading on Wednesday, reaching $64.60. The stock had a trading volume of 668,045 shares, compared to its average volume of 2,050,408. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. The firm has a fifty day simple moving average of $62.63 and a two-hundred day simple moving average of $58.69. The stock has a market cap of $225.53 billion, a PE ratio of 12.79, a P/E/G ratio of 1.46 and a beta of 0.60. HSBC Holdings plc has a 52-week low of $42.38 and a 52-week high of $66.05.
HSBC (NYSE:HSBC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping 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 the consensus estimate of $16.64 billion. As a group, equities research analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current year.
HSBC Dividend Announcement
The business also recently disclosed a dividend, which will be paid on Friday, September 26th. Shareholders of record on Monday, August 18th will be given a $0.495 dividend. This represents a yield of 308.0%. The ex-dividend date is Friday, August 15th. HSBC's dividend payout ratio is currently 39.21%.
HSBC Company Profile
(
Free Report)
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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