FORA Capital LLC Grows Holdings in HSBC Holdings plc $HSBC

Key Points

• FORA Capital LLC has significantly increased its holdings in HSBC Holdings plc by 185.7%, now owning 38,783 shares worth approximately $2.23 million.
• HSBC reported $1.95 earnings per share in its recent quarter, exceeding analyst expectations of $1.62, with a net margin of 13.48% and revenue of $16.90 billion.
• The company announced a dividend payment of $0.495 per share, with a dividend yield of 308.0%, payable on September 26th to investors of record on August 18th.

FORA Capital LLC lifted its stake in HSBC Holdings plc (NYSE:HSBC - Free Report) by 185.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 38,783 shares of the financial services provider's stock after acquiring an additional 25,208 shares during the quarter. FORA Capital LLC's holdings in HSBC were worth $2,227,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HSBC. Northern Trust Corp lifted its stake in HSBC by 3.3% during the first quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider's stock worth $165,002,000 after purchasing an additional 91,789 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of HSBC by 9.1% in the 1st quarter. American Century Companies Inc. now owns 1,022,231 shares of the financial services provider's stock valued at $58,707,000 after buying an additional 85,166 shares during the period. GAMMA Investing LLC lifted its stake in HSBC by 7,061.5% during the 1st quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider's stock worth $321,210,000 after acquiring an additional 551,501 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in HSBC by 729.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,953 shares of the financial services provider's stock valued at $22,280,000 after acquiring an additional 341,187 shares during the period. Finally, QRG Capital Management Inc. increased its stake in HSBC by 5.6% during the first quarter. QRG Capital Management Inc. now owns 366,245 shares of the financial services provider's stock worth $21,033,000 after purchasing an additional 19,584 shares during the period. Institutional investors and hedge funds own 1.48% of the company's stock.

HSBC Stock Performance

Shares of HSBC stock opened at $65.45 on Wednesday. The business has a 50-day simple moving average of $62.63 and a 200-day simple moving average of $58.69. 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 one year low of $42.38 and a one year high of $66.05. The company has a market cap of $228.50 billion, a PE ratio of 12.96, a P/E/G ratio of 1.46 and a beta of 0.60.

HSBC (NYSE:HSBC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $16.64 billion. On average, equities research analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

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

Analyst Ratings Changes

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

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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