HSBC Holdings plc $HSBC Shares Bought by Royal Bank of Canada

Key Points

• Royal Bank of Canada has increased its stake in HSBC Holdings plc by 18.7%, holding over 1 million shares worth approximately $60.15 million.
• HSBC reported an earnings per share (EPS) of $1.95 for the last quarter, exceeding analysts' expectations of $1.62, and generated revenues of $16.90 billion.
• The company declared a quarterly dividend of $0.495 per share, equivalent to an annual yield of 3.0%, with the ex-dividend date set for August 15th.

Royal Bank of Canada increased its holdings in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 18.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,047,447 shares of the financial services provider's stock after acquiring an additional 164,915 shares during the quarter. Royal Bank of Canada's holdings in HSBC were worth $60,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HSBC. CoreCap Advisors LLC increased its position in 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 purchasing an additional 456 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in HSBC during the first quarter worth about $30,000. Garde Capital Inc. acquired a new stake in HSBC during the first quarter worth about $43,000. Elequin Capital LP increased its position in HSBC by 282.2% during the first quarter. Elequin Capital LP now owns 772 shares of the financial services provider's stock worth $44,000 after purchasing an additional 570 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in HSBC by 51.0% during the first quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock worth $50,000 after buying an additional 292 shares during the period. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Stock Up 0.8%

Shares of NYSE HSBC traded up $0.50 during midday trading on Friday, hitting $65.58. The company's stock had a trading volume of 1,355,986 shares, compared to its average volume of 1,160,176. The business's fifty day simple moving average is $63.42 and its two-hundred day simple moving average is $59.21. 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 1 year low of $42.38 and a 1 year high of $66.37. The firm has a market capitalization of $228.97 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.65.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The business had revenue of $16.90 billion during the quarter, compared to analyst estimates of $16.64 billion. On average, equities analysts predict that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 15th will be paid a $0.495 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a yield of 3.0%. HSBC's payout ratio is currently 39.21%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America reaffirmed a "neutral" rating and set a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. BNP Paribas Exane raised shares of HSBC from an "underperform" rating to an "outperform" rating in a research note on Friday. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.