Hennessy Advisors Inc. cut its holdings in HSBC Holdings plc (NYSE:HSBC - Free Report) by 13.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,100 shares of the financial services provider's stock after selling 17,100 shares during the quarter. Hennessy Advisors Inc.'s holdings in HSBC were worth $6,208,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC grew its stake in HSBC by 58.2% during the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider's stock worth $28,000 after buying an additional 210 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of HSBC by 342.9% during the fourth quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider's stock worth $29,000 after acquiring an additional 456 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of HSBC during the fourth quarter valued at about $30,000. Sierra Ocean LLC purchased a new position in shares of HSBC in the 4th quarter valued at approximately $73,000. Finally, Ameriflex Group Inc. acquired a new stake in HSBC in the 4th quarter worth approximately $86,000. 1.48% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
HSBC has been the subject of a number of research analyst reports. Barclays upgraded HSBC from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. Wall Street Zen upgraded shares of HSBC from a "sell" rating to a "hold" rating in a report on Tuesday, March 11th. UBS Group reissued a "neutral" rating on shares of HSBC in a report on Thursday, March 6th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $63.00 price target on shares of HSBC in a report on Tuesday, June 3rd. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $63.00.
View Our Latest Stock Analysis on HSBC
HSBC Price Performance
Shares of HSBC stock traded up $0.64 during mid-day trading on Wednesday, hitting $59.16. 1,153,750 shares of the stock were exchanged, compared to its average volume of 1,735,459. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.51. HSBC Holdings plc has a 52-week low of $39.42 and a 52-week high of $61.88. The firm has a fifty day moving average of $56.94 and a 200 day moving average of $54.21. The company has a market cap of $208.01 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.86 and a beta of 0.58.
HSBC (NYSE:HSBC - Get Free Report) last issued its quarterly earnings data 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. HSBC had a return on equity of 12.55% and a net margin of 14.55%. The company had revenue of $17.74 billion for the quarter, compared to analyst estimates of $16.60 billion. Research analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current year.
HSBC Dividend Announcement
The business also recently disclosed a dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.495 per share. This represents a yield of 3.5%. The ex-dividend date of this dividend is Friday, May 9th. HSBC's payout ratio is 36.33%.
About HSBC
(
Free Report)
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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