Caas Capital Management LP Grows Stake in HSBC Holdings plc (NYSE:HSBC)

Caas Capital Management LP grew its stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 6.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,529 shares of the financial services provider's stock after purchasing an additional 4,492 shares during the quarter. HSBC makes up about 0.5% of Caas Capital Management LP's holdings, making the stock its 13th biggest position. Caas Capital Management LP's holdings in HSBC were worth $4,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Weil Company Inc. acquired a new position in shares of HSBC in the 1st quarter valued at $230,000. Cerity Partners LLC increased its holdings in shares of HSBC by 22.1% in the 1st quarter. Cerity Partners LLC now owns 95,768 shares of the financial services provider's stock valued at $5,500,000 after acquiring an additional 17,321 shares during the period. Allworth Financial LP grew its position in HSBC by 24.9% in the 1st quarter. Allworth Financial LP now owns 1,824 shares of the financial services provider's stock valued at $102,000 after buying an additional 364 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in HSBC by 11.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 12,046 shares of the financial services provider's stock valued at $692,000 after buying an additional 1,256 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its position in HSBC by 12.7% in the 1st quarter. Valeo Financial Advisors LLC now owns 9,818 shares of the financial services provider's stock valued at $564,000 after buying an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company's stock.

Wall Street Analyst Weigh In

Separately, Bank of America reiterated a "neutral" rating and issued a $63.00 price objective on shares of HSBC in a research report on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $63.00.

HSBC Price Performance

HSBC stock traded down $1.11 during midday trading on Friday, reaching $61.67. The company's stock had a trading volume of 1,217,196 shares, compared to its average volume of 1,760,356. The firm has a market capitalization of $215.32 billion, a PE ratio of 11.32, a P/E/G ratio of 1.97 and a beta of 0.57. HSBC Holdings plc has a fifty-two week low of $39.42 and a fifty-two week high of $62.87. The stock's 50 day simple moving average is $59.39 and its 200 day simple moving average is $55.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.93.

HSBC (NYSE:HSBC - Get Free Report) last announced 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 net margin of 14.55% and a return on equity of 12.55%. The firm had revenue of $17.74 billion during the quarter, compared to analysts' expectations of $16.60 billion. On average, equities research analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

The company also recently declared a dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 12th were issued a $0.495 dividend. This represents a dividend yield of 3.5%. The ex-dividend date was Friday, May 9th. HSBC's dividend payout ratio is currently 36.33%.

HSBC Company 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.