Fortis Capital Advisors LLC Acquires Shares of 6,800 HSBC Holdings plc $HSBC

Key Points

• Fortis Capital Advisors LLC acquired a new stake in HSBC Holdings plc, buying 6,800 shares valued at approximately $391,000 in the first quarter.
• HSBC exceeded earnings expectations, reporting a EPS of $1.95 for the quarter, nearly $0.33 above consensus estimates.
• The firm announced a quarterly dividend of $0.495, resulting in an annual yield of 2.9%, payable to shareholders on September 26.

Fortis Capital Advisors LLC acquired a new stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,800 shares of the financial services provider's stock, valued at approximately $391,000.

A number of other hedge funds also recently bought and sold shares of HSBC. CoreCap Advisors LLC lifted its stake in HSBC by 342.9% during the fourth quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider's stock valued at $29,000 after buying an additional 456 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in HSBC during the first quarter valued at about $30,000. Garde Capital Inc. purchased a new stake in HSBC during the first quarter valued at about $43,000. Elequin Capital LP lifted its stake in HSBC by 282.2% during the first quarter. Elequin Capital LP now owns 772 shares of the financial services provider's stock valued at $44,000 after buying an additional 570 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in HSBC by 51.0% during the first quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock valued at $50,000 after buying an additional 292 shares in the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

HSBC Trading Up 2.8%

NYSE:HSBC opened at $68.38 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. The company has a market capitalization of $237.33 billion, a P/E ratio of 13.54, a P/E/G ratio of 1.48 and a beta of 0.65. The stock's 50 day moving average price is $63.80 and its 200 day moving average price is $59.42. HSBC Holdings plc has a 52 week low of $42.38 and a 52 week high of $68.55.

HSBC (NYSE:HSBC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.62 by $0.33. The company had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. On average, research analysts forecast that HSBC Holdings plc will post 6.66 EPS 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 $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 15th. HSBC's payout ratio is currently 39.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BNP Paribas Exane upgraded HSBC from an "underperform" rating to an "outperform" rating in a report on Friday, September 5th. BNP Paribas raised shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, September 5th. Finally, Bank of America reissued a "neutral" rating and issued a $63.00 price target on shares of HSBC in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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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