Chelsea Counsel Co. Acquires New Holdings in HSBC Holdings plc $HSBC

Key Points

• Chelsea Counsel Co. has purchased 10,100 shares of HSBC Holdings plc, valued at approximately $598,000, during the first quarter.
• Several analysts have upgraded their ratings on HSBC, with BNP Paribas moving from a "strong sell" to a "strong buy," while the stock has a consensus target price of $63.00.
• HSBC recently announced a quarterly dividend of $0.495 per share, reflecting an annualized dividend yield of 2.9% and a payout ratio of 39.21%.

Chelsea Counsel Co. bought a new stake in HSBC Holdings plc (NYSE:HSBC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,100 shares of the financial services provider's stock, valued at approximately $598,000.

Other large investors have also recently bought and sold shares of the company. CoreCap Advisors LLC lifted its stake in shares of HSBC by 342.9% in the 4th quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider's stock worth $29,000 after acquiring an additional 456 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of HSBC during the 1st quarter worth about $30,000. Garde Capital Inc. acquired a new stake in shares of HSBC during the 1st quarter worth about $43,000. Elequin Capital LP boosted its position in shares of HSBC by 282.2% in the first 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 last quarter. Finally, Bessemer Group Inc. boosted its position in shares of HSBC by 51.0% in the first 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 last quarter. Institutional investors and hedge funds own 1.48% of the company's stock.

HSBC Stock Performance

HSBC stock traded down $0.52 during mid-day trading on Friday, reaching $68.64. The company's stock had a trading volume of 1,135,040 shares, compared to its average volume of 1,245,749. The firm has a market cap of $238.22 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.54 and a beta of 0.65. The business has a 50 day moving average price of $64.13 and a 200-day moving average price of $59.58. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a twelve month low of $43.38 and a twelve month high of $69.32.

HSBC (NYSE:HSBC - Get Free Report) last released 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. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The firm had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. Sell-side analysts predict that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.9%. HSBC's payout ratio is 39.21%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HSBC shares. BNP Paribas raised shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, September 5th. Bank of America reiterated a "neutral" rating and set a $63.00 price objective on shares of HSBC in a research note on Tuesday, June 3rd. Finally, BNP Paribas Exane upgraded shares of HSBC from an "underperform" rating to an "outperform" rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $63.00.

HSBC 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.