Scotia Capital Inc. Makes New Investment in HSBC Holdings plc (NYSE:HSBC)

Key Points

• Scotia Capital Inc. made a new investment in HSBC Holdings plc, acquiring 31,561 shares valued at approximately $1.8 million in the first quarter.
• Institutional investors are increasing their stakes in HSBC, with Northern Trust Corp boosting its position by 52% and GAMMA Investing LLC by an astonishing 7,061.5% during the same period.
• HSBC reported a $1.95 EPS for the last quarter, exceeding estimates, with a consensus target price of $63.00 as five analysts rate the stock as a hold.

Scotia Capital Inc. purchased a new position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 31,561 shares of the financial services provider's stock, valued at approximately $1,813,000.

Several other large investors also recently made changes to their positions in HSBC. Northern Trust Corp boosted 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 purchasing an additional 951,050 shares during the period. GAMMA Investing LLC boosted its stake 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 purchasing an additional 551,501 shares during the period. FMR LLC boosted its stake in 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 purchasing an additional 441,033 shares during the period. Raymond James Financial Inc. bought a new stake in HSBC during the 4th quarter valued at approximately $17,815,000. Finally, Contrarian Capital Management L.L.C. acquired a new stake in shares of HSBC during the 4th quarter worth approximately $11,914,000. Institutional investors own 1.48% of the company's stock.

HSBC Price Performance

Shares of NYSE:HSBC opened at $61.97 on Wednesday. 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 has a market capitalization of $216.38 billion, a PE ratio of 12.27, a PEG ratio of 1.40 and a beta of 0.60. HSBC Holdings plc has a 1-year low of $39.94 and a 1-year high of $65.75. The business's 50 day moving average is $61.13 and its 200-day moving average is $57.38.

HSBC (NYSE:HSBC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.62 by $0.33. The business had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. Sell-side analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Bank of America reissued a "neutral" rating and set a $63.00 price objective on shares of HSBC in a report on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, HSBC currently has an average rating of "Hold" and a consensus target price 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.

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