HighTower Advisors LLC Purchases 54,966 Shares of HSBC Holdings plc $HSBC

Key Points

• HighTower Advisors LLC increased its stake in HSBC Holdings plc by 33.5%, reaching 218,945 shares valued at approximately $12.57 million.
• Bank of America set a neutral rating on HSBC shares with a price target of $63.00, and the stock currently has a consensus rating of "Hold".
• HSBC announced a dividend of $0.495 per share, with a yield of 308.0%, payable on September 26th, to shareholders of record on August 18th.

HighTower Advisors LLC lifted its holdings in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 33.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,945 shares of the financial services provider's stock after acquiring an additional 54,966 shares during the quarter. HighTower Advisors LLC's holdings in HSBC were worth $12,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of HSBC in the 1st quarter valued at about $30,000. CoreCap Advisors LLC boosted its holdings in shares of HSBC by 342.9% in the fourth quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 456 shares in the last quarter. Garde Capital Inc. acquired a new stake in HSBC during the first quarter valued at approximately $43,000. Bessemer Group Inc. lifted its position in shares of HSBC by 51.0% in the 1st quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 292 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in HSBC by 32.1% in the 1st quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock valued at $59,000 after buying an additional 249 shares during the period. Institutional investors and hedge funds own 1.48% of the company's stock.

Analyst Ratings Changes

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

HSBC Trading Down 0.1%

NYSE HSBC traded down $0.0750 during trading hours on Thursday, reaching $65.2850. The company's stock had a trading volume of 649,193 shares, compared to its average volume of 2,077,086. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.93. HSBC Holdings plc has a 52 week low of $42.38 and a 52 week high of $65.77. The firm has a fifty day simple moving average of $62.15 and a 200-day simple moving average of $58.28. The stock has a market cap of $227.94 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.42 and a beta of 0.60.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.33. The business 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%. Equities analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

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

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.