LPL Financial LLC Boosts Holdings in HSBC Holdings plc (NYSE:HSBC)

LPL Financial LLC raised its position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 52.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,650 shares of the financial services provider's stock after acquiring an additional 80,132 shares during the period. LPL Financial LLC's holdings in HSBC were worth $13,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. National Bank of Canada FI grew its position in HSBC by 739.7% in the 4th quarter. National Bank of Canada FI now owns 15,577 shares of the financial services provider's stock valued at $770,000 after acquiring an additional 13,722 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in HSBC in the fourth quarter valued at about $3,998,000. Bridgewater Advisors Inc. purchased a new stake in HSBC in the first quarter valued at about $443,000. TrueMark Investments LLC acquired a new position in shares of HSBC in the first quarter valued at about $2,616,000. Finally, Sagespring Wealth Partners LLC acquired a new position in shares of HSBC in the fourth quarter valued at about $641,000. 1.48% of the stock is owned by hedge funds and other institutional investors.

HSBC Stock Up 1.0%

Shares of HSBC opened at $62.66 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a 12 month low of $40.73 and a 12 month high of $65.75. The stock's 50 day moving average is $61.21 and its two-hundred day moving average is $57.41. The firm has a market cap of $218.75 billion, a P/E ratio of 12.41, a PEG ratio of 1.41 and a beta of 0.60.

HSBC (NYSE:HSBC - Get Free Report) last issued 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 return on equity of 12.73% and a net margin of 13.48%. The company had revenue of $16.90 billion for the quarter, compared to analyst estimates of $16.64 billion. Analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Bank of America reaffirmed a "neutral" rating and set a $63.00 target price on shares of HSBC in a report on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, HSBC has a consensus rating of "Hold" and a consensus price target of $63.00.

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.

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