Grantham Mayo Van Otterloo & Co. LLC Has $23.83 Million Stock Position in HSBC Holdings plc $HSBC

Key Points

• Grantham Mayo Van Otterloo & Co. LLC raised its stake in HSBC by 9.7% in Q3 to 335,746 shares, valued at about $23.83 million after adding 29,631 shares.
• HSBC announced a quarterly dividend of $2.25 (annualized $9.00), implying a 10.7% yield, with an ex-dividend date of March 13 and payment on April 30 — a large increase from the prior $0.50 quarterly payout.
• HSBC reported EPS of $0.37, missing the $1.60 consensus while revenue of $17.72 billion beat estimates, and analysts currently give the stock a consensus rating of Moderate Buy with a $63 target.

Grantham Mayo Van Otterloo & Co. LLC lifted its stake in HSBC Holdings plc (NYSE:HSBC - Free Report) by 9.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 335,746 shares of the financial services provider's stock after buying an additional 29,631 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in HSBC were worth $23,831,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of HSBC. Sivia Capital Partners LLC grew its position in HSBC by 19.0% in the second quarter. Sivia Capital Partners LLC now owns 11,896 shares of the financial services provider's stock valued at $723,000 after acquiring an additional 1,899 shares during the period. Ignite Planners LLC lifted its holdings in shares of HSBC by 1.5% during the second quarter. Ignite Planners LLC now owns 17,122 shares of the financial services provider's stock valued at $1,076,000 after acquiring an additional 253 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of HSBC by 10.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 92,476 shares of the financial services provider's stock valued at $5,622,000 after purchasing an additional 8,661 shares in the last quarter. Atria Investments Inc grew its holdings in shares of HSBC by 78.2% in the 2nd quarter. Atria Investments Inc now owns 9,119 shares of the financial services provider's stock worth $554,000 after purchasing an additional 4,002 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of HSBC by 175.6% in the 2nd quarter. Bank of Montreal Can now owns 209,666 shares of the financial services provider's stock worth $12,746,000 after purchasing an additional 133,591 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company's stock.

HSBC Stock Down 1.9%

Shares of HSBC stock opened at $84.11 on Monday. The business has a fifty day simple moving average of $85.46 and a 200 day simple moving average of $75.49. The stock has a market cap of $288.92 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.91 and a beta of 0.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.62. HSBC Holdings plc has a 12 month low of $45.66 and a 12 month high of $94.79.

HSBC (NYSE:HSBC - Get Free Report) last released its earnings results on Wednesday, February 25th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($1.23). The company had revenue of $17.72 billion during the quarter, compared to analyst estimates of $17.01 billion. HSBC had a net margin of 16.07% and a return on equity of 13.10%. Research analysts predict that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 13th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 10.7%. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from HSBC's previous quarterly dividend of $0.50. HSBC's payout ratio is 32.73%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Bank of America raised shares of HSBC from a "neutral" rating to a "buy" rating in a report on Wednesday, December 10th. Keefe, Bruyette & Woods raised shares of HSBC from a "hold" rating to a "moderate buy" rating in a report on Wednesday, December 17th. Citigroup reiterated a "buy" rating on shares of HSBC in a research note on Friday, January 9th. Morgan Stanley initiated coverage on HSBC in a report on Wednesday, January 14th. They issued an "equal weight" rating on the stock. Finally, Erste Group Bank raised HSBC from a "hold" rating to a "buy" rating in a report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

About HSBC

HSBC Holdings plc NYSE: HSBC is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world's largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

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