Prime Capital Investment Advisors LLC Acquires 19,980 Shares of HSBC Holdings plc $HSBC

Key Points

• Prime Capital Investment Advisors LLC increased its stake in HSBC Holdings plc by 238.1%, acquiring an additional 19,980 shares during the second quarter, raising its total holdings to $1,725,000.
• HSBC reported a quarterly earnings per share of $1.95, exceeding analysts' expectations of $1.62, with a revenue of $16.90 billion.
• The company has announced a quarterly dividend of $0.495, resulting in an annualized dividend yield of 2.8%, with a payout ratio of 39.21%.

Prime Capital Investment Advisors LLC boosted its holdings in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 238.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,372 shares of the financial services provider's stock after acquiring an additional 19,980 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in HSBC were worth $1,725,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HSBC. TD Private Client Wealth LLC raised its position in HSBC by 101.7% during the second quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 234 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of HSBC in the first quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new position in shares of HSBC in the second quarter valued at approximately $31,000. Raleigh Capital Management Inc. bought a new position in shares of HSBC in the second quarter valued at approximately $33,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of HSBC in the second quarter valued at approximately $39,000. Institutional investors own 1.48% of the company's stock.

HSBC Trading Up 1.1%

Shares of HSBC stock opened at $71.49 on Thursday. HSBC Holdings plc has a 1 year low of $43.81 and a 1 year high of $72.21. 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 firm's fifty day simple moving average is $66.72 and its 200 day simple moving average is $61.09. The firm has a market capitalization of $248.11 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $16.64 billion. As a group, sell-side analysts predict that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 15th were paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, August 15th. HSBC's payout ratio is currently 39.21%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BNP Paribas Exane raised shares of HSBC from an "underperform" rating to an "outperform" rating in a research report on Friday, September 5th. Citigroup reissued a "buy" rating on shares of HSBC in a research report on Monday, September 22nd. BNP Paribas raised shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, September 5th. Zacks Research lowered shares of HSBC from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of HSBC in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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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