Sanibel Captiva Trust Company Inc. Buys New Stake in HSBC Holdings plc (NYSE:HSBC)

Sanibel Captiva Trust Company Inc. acquired a new position in HSBC Holdings plc (NYSE:HSBC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,424 shares of the financial services provider's stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Northern Trust Corp lifted its stake in HSBC by 52.0% during the 4th quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider's stock valued at $137,563,000 after acquiring an additional 951,050 shares during the period. GAMMA Investing LLC grew its holdings in HSBC by 7,061.5% during the 1st quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider's stock valued at $321,210,000 after buying an additional 551,501 shares in the last quarter. FMR LLC boosted 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 valued at $142,605,000 after acquiring an additional 441,033 shares during the last quarter. Raymond James Financial Inc. purchased a new position in HSBC during the fourth quarter worth $17,815,000. Finally, Contrarian Capital Management L.L.C. purchased a new position in HSBC during the 4th quarter valued at $11,914,000. Hedge funds and other institutional investors own 1.48% of the company's stock.

HSBC Price Performance

Shares of HSBC traded up $0.73 on Thursday, reaching $60.15. The stock had a trading volume of 1,200,831 shares, compared to its average volume of 1,727,880. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average of $56.01 and a 200 day moving average of $53.81. HSBC Holdings plc has a twelve month low of $39.42 and a twelve month high of $61.88. The firm has a market capitalization of $211.48 billion, a PE ratio of 9.70, a PEG ratio of 1.05 and a beta of 0.58.

HSBC (NYSE:HSBC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.35. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The firm had revenue of $17.74 billion for the quarter, compared to analysts' expectations of $16.60 billion. Sell-side analysts expect that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 12th will be paid a $0.495 dividend. The ex-dividend date is Friday, May 9th. This represents a dividend yield of 3.5%. HSBC's dividend payout ratio (DPR) is presently 36.33%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Bank of America reiterated a "neutral" rating and issued a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. Wall Street Zen raised shares of HSBC from a "sell" rating to a "hold" rating in a report on Tuesday, March 11th. UBS Group restated a "neutral" rating on shares of HSBC in a report on Thursday, March 6th. Finally, Barclays upgraded HSBC from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target 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.