QRG Capital Management Inc. Buys 31,191 Shares of HSBC Holdings plc $HSBC

Key Points

• QRG Capital Management increased its HSBC position by 13.4%, purchasing 31,191 additional shares and bringing its holdings to 264,385 shares valued at approximately $25.1 million.
• HSBC shares recently traded at $100.24, with a market capitalization of $344.2 billion. The bank exceeded quarterly earnings and revenue estimates, reporting $2.25 in EPS and $19.04 billion in revenue.
• HSBC declared a quarterly dividend of $0.50 per share, equivalent to a 2.0% annualized yield. Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating.

QRG Capital Management Inc. grew its position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 13.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 264,385 shares of the financial services provider's stock after buying an additional 31,191 shares during the quarter. QRG Capital Management Inc.'s holdings in HSBC were worth $25,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Bank of America Corp DE increased its position in HSBC by 5.5% during the first quarter. Bank of America Corp DE now owns 2,385,883 shares of the financial services provider's stock valued at $196,811,000 after acquiring an additional 124,201 shares during the last quarter. Clearbridge Investments LLC boosted its position in HSBC by 77.0% in the fourth quarter. Clearbridge Investments LLC now owns 1,443,716 shares of the financial services provider's stock worth $113,577,000 after purchasing an additional 627,857 shares during the last quarter. Royal Bank of Canada grew its stake in shares of HSBC by 17.3% during the 1st quarter. Royal Bank of Canada now owns 1,304,192 shares of the financial services provider's stock valued at $107,582,000 after purchasing an additional 192,133 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of HSBC by 9.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 590,663 shares of the financial services provider's stock valued at $46,467,000 after purchasing an additional 52,425 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of HSBC by 20.9% during the 1st quarter. Quantinno Capital Management LP now owns 525,775 shares of the financial services provider's stock valued at $43,371,000 after purchasing an additional 90,711 shares during the last quarter. Institutional investors own 1.48% of the company's stock.

HSBC Stock Performance

Shares of NYSE:HSBC traded down $1.35 during mid-day trading on Wednesday, reaching $100.24. 1,462,215 shares of the company traded hands, compared to its average volume of 1,779,482. The company's 50 day moving average price is $103.57 and its 200-day moving average price is $94.71. The firm has a market cap of $344.20 billion, a PE ratio of 14.22, a PEG ratio of 0.98 and a beta of 0.57. HSBC Holdings plc has a 52 week low of $64.64 and a 52 week high of $107.92. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.85 and a quick ratio of 0.92.

HSBC (NYSE:HSBC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.01. The business had revenue of $19.04 billion for the quarter, compared to the consensus estimate of $18.66 billion. HSBC had a net margin of 18.19% and a return on equity of 13.80%. On average, equities analysts expect that HSBC Holdings plc will post 8.56 EPS for the current fiscal year.

HSBC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, August 14th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, August 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. HSBC's payout ratio is 28.09%.

Trending Headlines about HSBC

Here are the key news stories impacting HSBC this week:

• Positive Sentiment: HSBC remains “max overweight” on equities and continues to favor technology stocks in the U.S. and Asia, as well as European banks. Strategists dismissed concerns about seasonality, the Japanese carry trade and hyperscaler debt issuance, signaling confidence in the broader market backdrop. HSBC says it’s still max overweight on equities
• Positive Sentiment: The bank raised its year-end STOXX 600 target to 680 and its FTSE 100 target to 11,390, citing stronger earnings expectations, improved business confidence and reduced geopolitical concerns. This could support HSBC’s investment-banking and asset-management businesses. HSBC lifts STOXX 600 year-end target
• Positive Sentiment: HSBC continued its share-buyback program, retiring more than 42 million shares, including approximately $827 million of purchases across the U.K. and Hong Kong. Ongoing repurchases can support earnings per share and signal management’s confidence in capital generation. HSBC advances global share buyback
• Positive Sentiment: HSBC is expanding its Singapore Premier global education offering, while its trust and fiduciary-services assets have risen 40% over five years. These developments point to continued growth in wealth-management and fee-based businesses. HSBC Singapore expands Premier education offering
• Neutral Sentiment: HSBC issued €3.75 billion of senior euro notes. The financing supports liquidity and balance-sheet flexibility but also adds wholesale funding obligations. HSBC raises senior euro notes
• Negative Sentiment: Reports that HSBC is introducing new customer charges and addressing card faults may create limited reputational risk and customer dissatisfaction, although the financial impact is not yet clear. HSBC confirms customer changes and new costs

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. BNP Paribas Exane downgraded shares of HSBC from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. Citigroup reiterated a "neutral" rating on shares of HSBC in a research report on Wednesday. Weiss Ratings reiterated a "hold (c)" rating on shares of HSBC in a research note on Monday, August 3rd. Erste Group Bank downgraded shares of HSBC from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded HSBC from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold".

HSBC Profile

HSBC Holdings plc is a global banking and financial services organization headquartered in London. Through its subsidiaries and network, the company provides services to personal, commercial and institutional customers, with a particular focus on connecting businesses and investors across international markets.

HSBC's principal activities include retail and wealth banking, commercial banking, global banking and markets, and private banking. Its products and services include current and savings accounts, mortgages, credit and lending, wealth management, investment services, foreign exchange, trade finance, cash management, and capital-markets services.

The company traces its origins to The Hongkong and Shanghai Banking Corporation, which was established in 1865 to finance trade between Asia and Europe.

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