Miracle Mile Advisors LLC lowered its holdings in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 19.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,736 shares of the financial services provider's stock after selling 4,368 shares during the quarter. Miracle Mile Advisors LLC's holdings in HSBC were worth $1,019,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the business. Wealthstar Advisors LLC bought a new position in HSBC in the fourth quarter worth approximately $664,000. Entropy Technologies LP purchased a new stake in shares of HSBC in the 4th quarter worth $701,000. Orion Portfolio Solutions LLC raised its holdings in HSBC by 23.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 41,933 shares of the financial services provider's stock worth $2,074,000 after purchasing an additional 7,908 shares during the period. National Bank of Canada FI lifted its position in HSBC by 739.7% during the fourth quarter. National Bank of Canada FI now owns 15,577 shares of the financial services provider's stock valued at $770,000 after purchasing an additional 13,722 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in HSBC during the fourth quarter valued at about $3,998,000. Institutional investors own 1.48% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on HSBC shares. Barclays upgraded shares of HSBC from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. UBS Group reissued a "neutral" rating on shares of HSBC in a report on Thursday, March 6th. Wall Street Zen raised shares of HSBC from a "sell" rating to a "hold" rating in a research note on Tuesday, March 11th. Finally, Bank of America reiterated a "neutral" rating and issued a $63.00 price target on shares of HSBC in a research note on Tuesday, June 3rd. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, HSBC currently has a consensus rating of "Hold" and an average price target of $63.00.
Check Out Our Latest Stock Report on HSBC
HSBC Stock Down 0.2%
Shares of HSBC stock traded down $0.14 during trading on Wednesday, hitting $59.42. 1,183,619 shares of the stock traded hands, compared to its average volume of 1,729,257. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. The stock's fifty day simple moving average is $55.82 and its 200 day simple moving average is $53.77. The firm has a market cap of $208.92 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 1.05 and a beta of 0.58. HSBC Holdings plc has a 52-week low of $39.42 and a 52-week high of $61.88.
HSBC (NYSE:HSBC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.35. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The company had revenue of $17.74 billion during the quarter, compared to analyst estimates of $16.60 billion. On average, equities analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.
HSBC Announces Dividend
The business also recently announced a dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 12th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a yield of 3.5%. HSBC's dividend payout ratio (DPR) is presently 36.33%.
HSBC Company Profile
(
Free Report)
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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