PNC Financial Services Group Inc. grew its position in HSBC Holdings plc (NYSE:HSBC - Free Report) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,414 shares of the financial services provider's stock after purchasing an additional 5,431 shares during the quarter. PNC Financial Services Group Inc.'s holdings in HSBC were worth $3,068,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of HSBC. Northern Trust Corp raised 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 buying an additional 951,050 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of HSBC by 7,061.5% in the 1st 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 during the last quarter. FMR LLC raised its position in shares of HSBC by 18.1% during the 4th quarter. FMR LLC now owns 2,883,238 shares of the financial services provider's stock worth $142,605,000 after acquiring an additional 441,033 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in HSBC during the fourth quarter worth approximately $17,815,000. Finally, Contrarian Capital Management L.L.C. acquired a new position in HSBC in the fourth quarter valued at approximately $11,914,000. 1.48% of the stock is owned by hedge funds and other institutional investors.
HSBC Stock Performance
Shares of HSBC stock traded up $0.76 on Friday, hitting $63.71. The stock had a trading volume of 1,363,235 shares, compared to its average volume of 1,557,820. The stock has a market cap of $222.44 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.42 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. HSBC Holdings plc has a 52-week low of $41.12 and a 52-week high of $65.75. The company's 50 day moving average price is $61.37 and its 200 day moving average price is $57.58.
HSBC (NYSE:HSBC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 EPS 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 business had revenue of $16.90 billion for the quarter, compared to analysts' expectations of $16.64 billion. On average, research analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current year.
Analysts Set New Price Targets
Separately, Bank of America restated a "neutral" rating and set a $63.00 price objective on shares of HSBC in a research report on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $63.00.
Read Our Latest Research Report on HSBC
About HSBC
(
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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