Earnest Partners LLC Has $2.07 Million Position in HSBC Holdings plc $HSBC

Key Points

• Earnest Partners LLC reduced its holdings in HSBC Holdings plc by 12.2%, selling 4,985 shares in the 1st quarter, leaving them with 36,030 shares valued at approximately $2.07 million.
• HSBC reported a quarterly earnings per share of $1.95, exceeding analyst estimates of $1.62, with total revenue of $16.90 billion for the quarter.
• The company announced a quarterly dividend of $0.495, set to be paid on September 26th, representing an annual yield of 3.1%.

Earnest Partners LLC cut its stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,030 shares of the financial services provider's stock after selling 4,985 shares during the quarter. Earnest Partners LLC's holdings in HSBC were worth $2,069,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of HSBC during the 1st quarter worth $30,000. CoreCap Advisors LLC boosted its stake in shares of HSBC by 342.9% during the 4th quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider's stock worth $29,000 after acquiring an additional 456 shares in the last quarter. Garde Capital Inc. purchased a new stake in shares of HSBC in the first quarter valued at $43,000. Elequin Capital LP lifted its holdings in shares of HSBC by 282.2% in the first quarter. Elequin Capital LP now owns 772 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 570 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of HSBC by 51.0% in the first quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 292 shares in the last quarter. 1.48% of the stock is owned by institutional investors.

HSBC Stock Down 0.5%

Shares of NYSE:HSBC traded down $0.32 during midday trading on Friday, hitting $64.50. 991,866 shares of the stock were exchanged, compared to its average volume of 1,178,524. 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 Holdings plc has a 52-week low of $42.38 and a 52-week high of $66.05. The business's fifty day simple moving average is $62.98 and its two-hundred day simple moving average is $58.93. The company has a market capitalization of $225.20 billion, a PE ratio of 12.77, a P/E/G ratio of 1.44 and a beta of 0.65.

HSBC (NYSE:HSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.33. HSBC had a return on equity of 12.73% and a net margin of 13.48%.The business had revenue of $16.90 billion during the quarter, compared to analyst estimates of $16.64 billion. As a group, research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 15th will be given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, August 15th. HSBC's dividend payout ratio is presently 39.21%.

Wall Street Analysts Forecast Growth

Separately, Bank of America restated a "neutral" rating and issued a $63.00 target price on shares of HSBC in a report on Tuesday, June 3rd. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $63.00.

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.