Ieq Capital LLC Raises Position in HSBC Holdings plc $HSBC

Key Points

• Ieq Capital LLC increased its holdings in HSBC Holdings plc by 37.7% in the first quarter, acquiring an additional 6,085 shares, bringing its total to 22,211 shares worth approximately $1.28 million.
• HSBC has announced a quarterly dividend of $0.495 per share, which will be payable on September 26th, representing an annualized dividend of $1.98 and a yield of 3.1%.
• Despite the positive earnings report of $1.95 EPS beating estimates, the stock price was reported at $64.50, reflecting a slight decline of 0.5% on the day.

Ieq Capital LLC raised its holdings in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 37.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,211 shares of the financial services provider's stock after purchasing an additional 6,085 shares during the period. Ieq Capital LLC's holdings in HSBC were worth $1,276,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HSBC. Westover Capital Advisors LLC boosted its stake in shares of HSBC by 2.5% during the 1st quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider's stock worth $468,000 after acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of HSBC by 1.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 17,094 shares of the financial services provider's stock worth $988,000 after purchasing an additional 223 shares during the last quarter. Lido Advisors LLC raised its position in shares of HSBC by 3.4% during the 4th quarter. Lido Advisors LLC now owns 7,531 shares of the financial services provider's stock worth $372,000 after purchasing an additional 249 shares during the last quarter. Larson Financial Group LLC raised its position in shares of HSBC by 32.1% during the 1st quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock worth $59,000 after purchasing an additional 249 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of HSBC by 0.3% during the 4th quarter. BNP Paribas Financial Markets now owns 93,929 shares of the financial services provider's stock worth $4,646,000 after purchasing an additional 254 shares during the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Trading Up 0.6%

Shares of HSBC stock traded up $0.37 during mid-day trading on Thursday, hitting $65.10. The stock had a trading volume of 1,054,904 shares, compared to its average volume of 2,025,972. The firm has a 50-day moving average of $63.23 and a two-hundred day moving average of $59.07. HSBC Holdings plc has a 12-month low of $42.38 and a 12-month high of $66.05. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm has a market cap of $227.30 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.44 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.33. The firm had revenue of $16.90 billion during 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%. Sell-side analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 15th will be given a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.0%. HSBC's dividend payout ratio (DPR) is presently 39.21%.

Analysts Set New Price Targets

Separately, Bank of America reiterated 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $63.00.

About HSBC

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.