Sowell Financial Services LLC acquired a new stake in HSBC Holdings plc (NYSE:HSBC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,449 shares of the financial services provider's stock, valued at approximately $2,093,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its position in HSBC by 23.4% in the first quarter. Janney Montgomery Scott LLC now owns 60,401 shares of the financial services provider's stock valued at $3,469,000 after purchasing an additional 11,463 shares during the period. D Orazio & Associates Inc. acquired a new stake in shares of HSBC during the 1st quarter worth about $224,000. Wealth Enhancement Advisory Services LLC raised its holdings in HSBC by 6.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,391 shares of the financial services provider's stock valued at $1,688,000 after buying an additional 1,897 shares during the period. Simon Quick Advisors LLC purchased a new position in HSBC during the first quarter worth about $309,000. Finally, Sanibel Captiva Trust Company Inc. acquired a new stake in shares of HSBC during the first quarter valued at about $254,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
HSBC has been the subject of a number of research analyst reports. Barclays raised shares of HSBC from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, March 4th. Bank of America reaffirmed a "neutral" rating and issued a $63.00 price objective on shares of HSBC in a research note on Tuesday, June 3rd. UBS Group reissued a "neutral" rating on shares of HSBC in a research note on Thursday, March 6th. Finally, Wall Street Zen upgraded shares of HSBC from a "sell" rating to a "hold" rating in a research note on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $63.00.
Read Our Latest Analysis on HSBC
HSBC Stock Up 0.7%
HSBC stock opened at $59.59 on Tuesday. The firm has a market capitalization of $209.53 billion, a P/E ratio of 9.61, a P/E/G ratio of 1.05 and a beta of 0.58. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. HSBC Holdings plc has a twelve month low of $39.42 and a twelve month high of $61.88. The stock's fifty day simple moving average is $56.75 and its 200-day simple moving average is $54.18.
HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share (EPS) 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 company had revenue of $17.74 billion for the quarter, compared to analyst estimates of $16.60 billion. As a group, equities analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.
HSBC Announces Dividend
The company also recently declared a dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.495 per share. This represents a yield of 3.5%. The ex-dividend date is Friday, May 9th. HSBC's dividend payout ratio (DPR) is presently 36.33%.
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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