Earned Wealth Advisors LLC Invests $326,000 in HSBC Holdings plc (NYSE:HSBC)

Key Points

• Earned Wealth Advisors LLC invested approximately $326,000 in HSBC Holdings plc, acquiring 5,673 shares in the 1st quarter.
• Other institutional investors, including LPL Financial LLC and JPMorgan Chase & Co., have also significantly increased their holdings in HSBC during the 4th quarter.
• Bank of America has set a target price of $63.00 for HSBC shares, which currently hold a consensus rating of "Hold" among analysts.

Earned Wealth Advisors LLC acquired a new stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,673 shares of the financial services provider's stock, valued at approximately $326,000.

A number of other hedge funds also recently bought and sold shares of HSBC. LPL Financial LLC increased its holdings in shares of HSBC by 23.2% in the fourth quarter. LPL Financial LLC now owns 153,518 shares of the financial services provider's stock valued at $7,593,000 after purchasing an additional 28,875 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of HSBC by 79.8% in the 4th quarter. JPMorgan Chase & Co. now owns 102,207 shares of the financial services provider's stock worth $5,055,000 after acquiring an additional 45,347 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of HSBC during the 4th quarter worth $3,998,000. Franklin Resources Inc. boosted its position in shares of HSBC by 3.1% during the 4th quarter. Franklin Resources Inc. now owns 397,408 shares of the financial services provider's stock valued at $19,656,000 after acquiring an additional 11,864 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of HSBC by 739.7% in the fourth quarter. National Bank of Canada FI now owns 15,577 shares of the financial services provider's stock valued at $770,000 after purchasing an additional 13,722 shares during the period. Institutional investors and hedge funds own 1.48% of the company's stock.

Analysts Set New Price Targets

Separately, Bank of America reaffirmed a "neutral" rating and set a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, HSBC presently has an average rating of "Hold" and a consensus target price of $63.00.

HSBC Stock Performance

Shares of HSBC stock opened at $61.35 on Monday. The business's fifty day simple moving average is $61.02 and its 200-day simple moving average is $57.27. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm has a market cap of $214.20 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.39 and a beta of 0.60. HSBC Holdings plc has a 52 week low of $39.42 and a 52 week high of $65.75.

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, 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 company had revenue of $16.90 billion during the quarter, compared to analyst estimates of $16.64 billion. Equities analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current year.

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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