Corient IA LLC Purchases Shares of 10,000 HSBC Holdings plc $HSBC

Key Points

• Corient IA LLC has acquired a new investment in HSBC Holdings plc, purchasing 10,000 shares valued at approximately $574,000.
• HSBC reported $1.95 earnings per share for its recent quarter, exceeding analysts' expectations and generating revenue of $16.90 billion.
• A dividend of $0.495 per share will be paid on September 26th, with a yield representing 308.0%, and a payout ratio of 39.21%.

Corient IA LLC acquired a new stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,000 shares of the financial services provider's stock, valued at approximately $574,000.

Several other hedge funds also recently modified their holdings of the company. Westover Capital Advisors LLC raised its position 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 acquiring an additional 200 shares in the last quarter. GeoWealth Management LLC raised its position in shares of HSBC by 6.7% in the 4th quarter. GeoWealth Management LLC now owns 3,279 shares of the financial services provider's stock worth $162,000 after acquiring an additional 205 shares in the last quarter. Lido Advisors LLC raised its position 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 worth $372,000 after acquiring an additional 249 shares in the last quarter. Larson Financial Group LLC raised its position 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 acquiring an additional 249 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of HSBC by 0.3% in the 4th quarter. BNP Paribas Financial Markets now owns 93,929 shares of the financial services provider's stock worth $4,646,000 after acquiring an additional 254 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company's stock.

HSBC Stock Down 0.2%

Shares of HSBC stock traded down $0.1380 on Thursday, hitting $65.2220. The company had a trading volume of 973,026 shares, compared to its average volume of 2,079,176. The stock has a market capitalization of $227.72 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 1.42 and a beta of 0.60. HSBC Holdings plc has a 1 year low of $42.38 and a 1 year high of $65.77. The stock has a 50 day moving average of $62.15 and a 200-day moving average of $58.28. 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 (NYSE:HSBC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.33. The company had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. As a group, sell-side analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Bank of America reaffirmed a "neutral" rating and set a $63.00 price target on shares of HSBC in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, HSBC presently has an average rating of "Hold" and an average price target 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.