Cutter & CO Brokerage Inc. Purchases Shares of 7,122 HSBC Holdings plc (NYSE:HSBC)

Cutter & CO Brokerage Inc. acquired a new position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 7,122 shares of the financial services provider's stock, valued at approximately $409,000.

Other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in HSBC during the first quarter valued at $30,000. 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 valued at $29,000 after purchasing an additional 456 shares during the last quarter. Garde Capital Inc. bought a new stake in HSBC in the first quarter worth $43,000. Bessemer Group Inc. increased its position in HSBC by 51.0% during the first quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock worth $50,000 after buying an additional 292 shares during the last quarter. Finally, Spire Wealth Management increased its holdings in shares of HSBC by 59.4% during the 1st quarter. Spire Wealth Management now owns 1,320 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 492 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Bank of America restated a "neutral" rating and set a $63.00 price target on shares of HSBC in a report on Tuesday, June 3rd. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, HSBC currently has a consensus rating of "Hold" and an average target price of $63.00.

HSBC Stock Performance

Shares of HSBC stock traded up $0.82 during mid-day trading on Monday, reaching $62.53. The stock had a trading volume of 1,078,243 shares, compared to its average volume of 2,200,773. HSBC Holdings plc has a one year low of $39.42 and a one year high of $62.87. The firm has a market cap of $218.33 billion, a PE ratio of 11.47, a P/E/G ratio of 1.94 and a beta of 0.57. The firm's 50 day simple moving average is $59.49 and its 200 day simple moving average is $55.81. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.51.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.35. The company had revenue of $17.74 billion during the quarter, compared to analyst estimates of $16.60 billion. HSBC had a net margin of 14.55% and a return on equity of 12.55%. On average, analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, May 12th were issued a $0.495 dividend. This represents a dividend yield of 3.5%. The ex-dividend date was Friday, May 9th. HSBC's dividend payout ratio (DPR) is presently 36.33%.

About HSBC

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.