Foster Group Inc. Buys New Shares in HSBC Holdings plc (NYSE:HSBC)

Foster Group Inc. bought a new stake in HSBC Holdings plc (NYSE:HSBC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,862 shares of the financial services provider's stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Merit Financial Group LLC lifted its stake in shares of HSBC by 69.7% in the 1st quarter. Merit Financial Group LLC now owns 10,065 shares of the financial services provider's stock valued at $578,000 after purchasing an additional 4,133 shares during the period. NBC Securities Inc. lifted its stake in HSBC by 172,200.0% in the first quarter. NBC Securities Inc. now owns 1,723 shares of the financial services provider's stock valued at $98,000 after buying an additional 1,722 shares during the period. Gunderson Capital Management Inc. acquired a new position in shares of HSBC during the 1st quarter valued at $10,287,000. Parallel Advisors LLC lifted its position in shares of HSBC by 4.9% during the 1st quarter. Parallel Advisors LLC now owns 13,737 shares of the financial services provider's stock valued at $789,000 after acquiring an additional 638 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of HSBC by 7,061.5% during the 1st quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider's stock valued at $321,210,000 after acquiring an additional 551,501 shares during the period. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Trading Up 0.6%

NYSE HSBC opened at $59.96 on Friday. The firm has a market capitalization of $211.94 billion, a P/E ratio of 9.67, a PEG ratio of 1.05 and a beta of 0.53. The business has a fifty day simple moving average of $55.65 and a 200 day simple moving average of $53.53. HSBC Holdings plc has a 12 month low of $39.42 and a 12 month high of $61.88. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69.

HSBC (NYSE:HSBC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.60 by $0.35. The company had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $16.60 billion. HSBC had a net margin of 16.17% and a return on equity of 12.20%. On average, analysts predict that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 12th will be given a dividend of $0.495 per share. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, May 9th. HSBC's payout ratio is 36.33%.

Analyst Ratings Changes

Several brokerages have recently weighed in on HSBC. Barclays upgraded shares of HSBC from an "equal weight" rating to an "overweight" rating in a report on Tuesday, March 4th. UBS Group reaffirmed a "neutral" rating on shares of HSBC in a research note on Thursday, March 6th. Wall Street Zen raised HSBC from a "sell" rating to a "hold" rating in a research note on Tuesday, March 11th. Finally, Bank of America reaffirmed a "neutral" rating and set a $63.00 target price on shares of HSBC in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" 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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