HSBC Holdings plc $HSBC Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in HSBC Holdings plc by 3.3%, acquiring an additional 91,789 shares during the first quarter, now owning a total of 2,873,096 shares valued at approximately $165 million.
• HSBC reported a quarterly earnings per share (EPS) of $1.95, exceeding analysts' expectations, with revenues totaling $16.90 billion against estimates of $16.64 billion.
• A dividend of $0.495 per share is scheduled for payment on September 26th, representing a yield of 308.0%, with an ex-dividend date of August 15th.

Northern Trust Corp raised its stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,873,096 shares of the financial services provider's stock after purchasing an additional 91,789 shares during the period. Northern Trust Corp owned 0.08% of HSBC worth $165,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in shares of HSBC in the first quarter worth about $30,000. CoreCap Advisors LLC lifted its stake in shares of HSBC by 342.9% in the fourth quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider's stock worth $29,000 after buying an additional 456 shares in the last quarter. Garde Capital Inc. purchased a new position in shares of HSBC in the first quarter worth about $43,000. Elequin Capital LP lifted its stake in shares of HSBC by 282.2% in the first quarter. Elequin Capital LP now owns 772 shares of the financial services provider's stock worth $44,000 after buying an additional 570 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of HSBC by 51.0% in the first quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock worth $50,000 after buying an additional 292 shares in the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

HSBC Stock Up 0.6%

NYSE:HSBC traded up $0.3810 during midday trading on Friday, hitting $65.6410. 1,225,278 shares of the company were exchanged, compared to its average volume of 1,461,877. HSBC Holdings plc has a fifty-two week low of $42.38 and a fifty-two week high of $66.05. The company has a market capitalization of $229.18 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.47 and a beta of 0.60. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $62.38 and a 200 day simple moving average of $58.52.

HSBC (NYSE:HSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The firm had revenue of $16.90 billion during the quarter, compared to analysts' expectations of $16.64 billion. As a group, equities analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, September 26th. Investors of record on Monday, August 18th will be given a $0.495 dividend. The ex-dividend date is Friday, August 15th. This represents a yield of 308.0%. HSBC's dividend payout ratio is 39.21%.

Wall Street Analysts Forecast Growth

Separately, Bank of America reissued a "neutral" rating and issued a $63.00 price target on shares of HSBC in a research note on Tuesday, June 3rd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, HSBC presently 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.