Orion Porfolio Solutions LLC Buys 28,701 Shares of HSBC Holdings plc $HSBC

Key Points

• Orion Portfolio Solutions LLC boosted its stake in HSBC by 58.3%, buying 28,701 shares to hold 77,938 shares worth $5.532 million at the end of the quarter.
• HSBC declared a quarterly dividend of $2.25 (up from $0.50), implying a $9.00 annualized payout and roughly a 10.7% yield; the ex-dividend date is March 13 and payment is April 30.
• HSBC reported Q results with EPS of $0.37 missing the $1.60 estimate while revenue beat at $17.72 billion, and analysts maintain a consensus rating of "Moderate Buy" with a $63 price target.

Orion Porfolio Solutions LLC boosted its stake in HSBC Holdings plc (NYSE:HSBC - Free Report) by 58.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,938 shares of the financial services provider's stock after purchasing an additional 28,701 shares during the quarter. Orion Porfolio Solutions LLC's holdings in HSBC were worth $5,532,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Sivia Capital Partners LLC increased its holdings in HSBC by 19.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 11,896 shares of the financial services provider's stock valued at $723,000 after buying an additional 1,899 shares during the period. Ignite Planners LLC lifted its holdings in shares of HSBC by 1.5% during the 2nd quarter. Ignite Planners LLC now owns 17,122 shares of the financial services provider's stock worth $1,076,000 after acquiring an additional 253 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of HSBC by 10.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 92,476 shares of the financial services provider's stock worth $5,622,000 after acquiring an additional 8,661 shares in the last quarter. Atria Investments Inc increased its stake in HSBC by 78.2% in the second quarter. Atria Investments Inc now owns 9,119 shares of the financial services provider's stock valued at $554,000 after acquiring an additional 4,002 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in HSBC by 175.6% in the second quarter. Bank of Montreal Can now owns 209,666 shares of the financial services provider's stock valued at $12,746,000 after acquiring an additional 133,591 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HSBC shares. Morgan Stanley began coverage on HSBC in a research note on Wednesday, January 14th. They set an "equal weight" rating for the company. Citigroup reissued a "buy" rating on shares of HSBC in a report on Friday, January 9th. Bank of America upgraded HSBC from a "neutral" rating to a "buy" rating in a research report on Wednesday, December 10th. Keefe, Bruyette & Woods raised HSBC from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, December 17th. Finally, Erste Group Bank raised HSBC from a "hold" rating to a "buy" rating in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, HSBC has an average rating of "Moderate Buy" and a consensus price target of $63.00.

HSBC Stock Down 1.9%

Shares of NYSE:HSBC opened at $84.11 on Friday. HSBC Holdings plc has a 52-week low of $45.66 and a 52-week high of $94.79. The company has a market capitalization of $288.92 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.91 and a beta of 0.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 0.87. The company has a fifty day moving average of $85.46 and a 200-day moving average of $75.41.

HSBC (NYSE:HSBC - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($1.23). HSBC had a net margin of 16.07% and a return on equity of 13.10%. The firm had revenue of $17.72 billion for the quarter, compared to analyst estimates of $17.01 billion. On average, equities analysts predict that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 13th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from HSBC's previous quarterly dividend of $0.50. This represents a $9.00 dividend on an annualized basis and a dividend yield of 10.7%. HSBC's payout ratio is 32.73%.

About HSBC

HSBC Holdings plc NYSE: HSBC is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world's largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

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