Kestra Private Wealth Services LLC Acquires Shares of 3,989 HSBC Holdings plc (NYSE:HSBC)

Key Points

• Kestra Private Wealth Services LLC has made a new investment in HSBC Holdings plc, acquiring 3,989 shares valued at approximately $229,000.
• HSBC has a current consensus rating of "Hold" from analysts, with an average target price set at $63.00.
• The company recently declared a dividend of $0.495 per share, which reflects a yield of 3.5% and a payout ratio of 36.33%.

Kestra Private Wealth Services LLC acquired a new stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,989 shares of the financial services provider's stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northern Trust Corp boosted its stake in HSBC by 52.0% in the fourth quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider's stock valued at $137,563,000 after acquiring an additional 951,050 shares in the last quarter. GAMMA Investing LLC boosted its stake in HSBC by 7,061.5% in the first quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider's stock valued at $321,210,000 after acquiring an additional 551,501 shares in the last quarter. FMR LLC boosted its stake in HSBC by 18.1% in the fourth quarter. FMR LLC now owns 2,883,238 shares of the financial services provider's stock valued at $142,605,000 after acquiring an additional 441,033 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in HSBC in the fourth quarter valued at approximately $17,815,000. Finally, Contrarian Capital Management L.L.C. acquired a new stake in HSBC in the fourth quarter valued at approximately $11,914,000. 1.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Bank of America restated a "neutral" rating and issued a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $63.00.

HSBC Stock Performance

Shares of NYSE:HSBC traded up $0.14 on Friday, hitting $61.44. 880,467 shares of the company were exchanged, compared to its average volume of 2,151,069. HSBC Holdings plc has a 1-year low of $39.42 and a 1-year high of $65.75. The stock's 50 day moving average price is $60.98 and its 200 day moving average price is $57.09. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $214.52 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.57.

HSBC (NYSE:HSBC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.33. The company 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 12.78%. Sell-side analysts predict that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 12th were given a dividend of $0.495 per share. The ex-dividend date was Friday, May 9th. This represents a yield of 350.0%. HSBC's payout ratio is currently 39.21%.

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.