Cornerstone Select Advisors LLC Buys Shares of 10,725 HSBC Holdings plc $HSBC

Key Points

• Cornerstone Select Advisors LLC has acquired a new stake in HSBC Holdings plc, purchasing 10,725 shares valued at approximately $616,000.
• Bank of America has reaffirmed a "neutral" rating for HSBC with a price target of $63.00, reflecting an average "Hold" rating from analysts.
• HSBC recently announced a dividend of $0.495 per share, set to be paid on September 26th, with an ex-dividend date of August 15th.

Cornerstone Select Advisors LLC bought a new stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,725 shares of the financial services provider's stock, valued at approximately $616,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Westover Capital Advisors LLC raised its holdings in HSBC by 2.5% during the 1st quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider's stock valued at $468,000 after acquiring an additional 200 shares during the period. GeoWealth Management LLC raised its holdings in HSBC by 6.7% during the 4th quarter. GeoWealth Management LLC now owns 3,279 shares of the financial services provider's stock valued at $162,000 after acquiring an additional 205 shares during the period. Lido Advisors LLC grew its position in shares of HSBC by 3.4% during 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 in the last quarter. Larson Financial Group LLC increased its holdings in shares of HSBC by 32.1% in the first 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. Finally, BNP Paribas Financial Markets increased its holdings in shares of HSBC by 0.3% in the fourth quarter. BNP Paribas Financial Markets now owns 93,929 shares of the financial services provider's stock worth $4,646,000 after purchasing an additional 254 shares during the period. Institutional investors own 1.48% of the company's stock.

Wall Street Analyst Weigh In

Separately, Bank of America reaffirmed a "neutral" rating and issued a $63.00 price target on shares of HSBC in a report on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, HSBC has an average rating of "Hold" and an average price target of $63.00.

HSBC Trading Down 2.9%

HSBC stock opened at $63.83 on Monday. The stock has a market cap of $222.86 billion, a P/E ratio of 12.64, a PEG ratio of 1.43 and a beta of 0.60. HSBC Holdings plc has a fifty-two week low of $42.38 and a fifty-two week high of $65.77. The firm's fifty day moving average price is $61.88 and its 200-day moving average price is $58.12. 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 released 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 firm had revenue of $16.90 billion for the quarter, compared to analysts' expectations of $16.64 billion. Equities research analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

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

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.

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