HSBC Holdings plc (NYSE:HSBC) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its holdings in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 21.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,121 shares of the financial services provider's stock after buying an additional 5,977 shares during the quarter. DAVENPORT & Co LLC's holdings in HSBC were worth $1,960,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Seven Mile Advisory grew its holdings in shares of HSBC by 3.6% in the fourth quarter. Seven Mile Advisory now owns 5,405 shares of the financial services provider's stock valued at $267,000 after purchasing an additional 190 shares during the period. GeoWealth Management LLC grew its holdings in shares of HSBC by 6.7% in the fourth quarter. GeoWealth Management LLC now owns 3,279 shares of the financial services provider's stock valued at $162,000 after purchasing an additional 205 shares during the period. Horizon Investments LLC grew its holdings in shares of HSBC by 1.4% in the fourth quarter. Horizon Investments LLC now owns 17,302 shares of the financial services provider's stock valued at $856,000 after purchasing an additional 245 shares during the period. Lido Advisors LLC grew its holdings in shares of HSBC by 3.4% in the fourth 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 during the period. Finally, BNP Paribas Financial Markets grew 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 valued at $4,646,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 1.48% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HSBC shares. Wall Street Zen raised shares of HSBC from a "sell" rating to a "hold" rating in a report on Tuesday, March 11th. Bank of America reaffirmed a "neutral" rating and issued a $63.00 target price on shares of HSBC in a research report on Tuesday, June 3rd. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $63.00.

HSBC Stock Up 0.2%

Shares of HSBC traded up $0.11 during mid-day trading on Friday, hitting $60.76. 833,049 shares of the company's stock were exchanged, compared to its average volume of 1,755,414. The company has a market cap of $213.63 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 1.91 and a beta of 0.57. HSBC Holdings plc has a fifty-two week low of $39.42 and a fifty-two week high of $61.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.93. The stock's 50-day moving average is $58.94 and its 200-day moving average is $55.31.

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

HSBC Announces Dividend

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

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.