Concurrent Investment Advisors LLC Makes New Investment in HSBC Holdings plc $HSBC

Key Points

• Concurrent Investment Advisors LLC has acquired 4,770 shares of HSBC Holdings plc, valued at approximately $290,000, during the 2nd quarter.
• HSBC recently announced a quarterly dividend of $0.495 per share, with an annualized dividend yield of 3.0%.
• Several research firms have reiterated ratings on HSBC, with one analyst giving a Strong Buy and others suggesting Hold or Buy ratings as the consensus rating stands at Hold with an average target price of $63.00.

Concurrent Investment Advisors LLC purchased a new position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,770 shares of the financial services provider's stock, valued at approximately $290,000.

Other large investors also recently bought and sold shares of the company. TD Private Client Wealth LLC increased its holdings in HSBC by 101.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider's stock worth $28,000 after purchasing an additional 234 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of HSBC in the 2nd quarter valued at about $31,000. Wayfinding Financial LLC purchased a new position in shares of HSBC in the 1st quarter valued at about $30,000. Raleigh Capital Management Inc. purchased a new position in shares of HSBC in the 2nd quarter valued at about $33,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of HSBC in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 1.48% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on HSBC. Jefferies Financial Group reiterated a "hold" rating on shares of HSBC in a report on Friday, October 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of HSBC in a report on Wednesday, October 8th. Citigroup reiterated a "buy" rating on shares of HSBC in a report on Monday, September 22nd. BNP Paribas Exane upgraded HSBC from an "underperform" rating to an "outperform" rating in a report on Friday, September 5th. Finally, BNP Paribas upgraded HSBC from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, HSBC has a consensus rating of "Hold" and an average target price of $63.00.

HSBC Trading Down 0.3%

Shares of HSBC stock opened at $65.87 on Monday. The business's 50 day moving average is $67.31 and its two-hundred day moving average is $61.59. HSBC Holdings plc has a twelve month low of $43.97 and a twelve month high of $72.21. The company has a market capitalization of $227.29 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.72 and a beta of 0.62. 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 (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, beating the consensus estimate of $1.62 by $0.33. HSBC had a return on equity of 12.73% and a net margin of 13.48%.The company had revenue of $16.90 billion for the quarter, compared to the consensus estimate of $16.64 billion. Equities analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 15th were paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 15th. HSBC's dividend payout ratio (DPR) is 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.

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