Brooklyn Investment Group Purchases 13,607 Shares of HSBC Holdings plc $HSBC

Key Points

• Brooklyn Investment Group increased its stake in HSBC Holdings plc by an astounding 1,360.7% during the first quarter, owning 14,607 shares valued at $839,000.
• HSBC recently reported earnings of $1.95 per share for the quarter, surpassing analysts' expectations of $1.62, with total revenue reaching $16.90 billion.
• A dividend of $0.495 per share will be paid on September 26th, with an ex-dividend date of August 15th, reflecting a yield of 308.0%.

Brooklyn Investment Group grew its stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 1,360.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,607 shares of the financial services provider's stock after purchasing an additional 13,607 shares during the period. Brooklyn Investment Group's holdings in HSBC were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in shares of HSBC in the 4th quarter worth about $17,815,000. Rockefeller Capital Management L.P. grew its position in shares of HSBC by 39.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 28,621 shares of the financial services provider's stock valued at $1,411,000 after acquiring an additional 8,044 shares during the period. Barclays PLC grew its position in shares of HSBC by 5.7% during the 4th quarter. Barclays PLC now owns 43,210 shares of the financial services provider's stock valued at $2,137,000 after acquiring an additional 2,343 shares during the period. Guggenheim Capital LLC boosted its holdings in HSBC by 42.0% in the 4th quarter. Guggenheim Capital LLC now owns 7,951 shares of the financial services provider's stock worth $393,000 after buying an additional 2,351 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in HSBC by 66.8% in the 4th quarter. NewEdge Advisors LLC now owns 20,601 shares of the financial services provider's stock worth $1,019,000 after buying an additional 8,249 shares during the period. Institutional investors and hedge funds own 1.48% of the company's stock.

Analyst Ratings Changes

Separately, Bank of America reaffirmed a "neutral" rating and issued a $63.00 price objective on shares of HSBC in a report on Tuesday, June 3rd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $63.00.

HSBC Price Performance

Shares of HSBC stock traded up $0.3810 on Friday, hitting $65.6410. 1,225,274 shares of the company traded hands, compared to its average volume of 2,073,832. The firm's 50-day simple moving average is $62.25 and its 200 day simple moving average is $58.38. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market cap of $229.18 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.46 and a beta of 0.60. HSBC Holdings plc has a 12-month low of $42.38 and a 12-month high of $66.05.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.33. The firm had revenue of $16.90 billion for the quarter, compared to analysts' expectations of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. Analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, September 26th. Investors of record on Monday, August 18th will be given a $0.495 dividend. This represents a yield of 308.0%. The ex-dividend date is Friday, August 15th. HSBC's dividend payout ratio (DPR) 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.