TrueMark Investments LLC Increases Stock Position in HSBC Holdings plc $HSBC

Key Points

• TrueMark Investments LLC increased its stake in HSBC Holdings plc by 18.3% in the second quarter, owning a total of 53,870 shares valued at approximately $3.27 million.
• Several institutional investors, including Goldman Sachs and Northern Trust Corp, have also raised their holdings in HSBC, indicating strong support from major financial players.
• HSBC recently posted a quarterly earnings per share of $1.95, surpassing estimates, and announced a quarterly dividend of $0.495 per share, reflecting a 3.0% dividend yield.

TrueMark Investments LLC grew its stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 18.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,870 shares of the financial services provider's stock after acquiring an additional 8,326 shares during the quarter. TrueMark Investments LLC's holdings in HSBC were worth $3,275,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of HSBC by 1.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider's stock valued at $271,438,000 after acquiring an additional 53,072 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of HSBC by 3.3% in the first quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider's stock worth $165,002,000 after buying an additional 91,789 shares during the last quarter. Contrarian Capital Management L.L.C. boosted its holdings in shares of HSBC by 425.4% in the first quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider's stock worth $72,687,000 after buying an additional 1,024,780 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of HSBC by 18.7% in the first quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider's stock worth $60,155,000 after buying an additional 164,915 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of HSBC by 9.1% in the first quarter. American Century Companies Inc. now owns 1,022,231 shares of the financial services provider's stock worth $58,707,000 after buying an additional 85,166 shares during the last quarter. Hedge funds and other institutional investors own 1.48% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HSBC shares. Citigroup reissued a "buy" rating on shares of HSBC in a report on Monday, September 22nd. BNP Paribas raised shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a report on Friday, September 5th. Zacks Research downgraded shares of HSBC from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. Jefferies Financial Group restated a "hold" rating on shares of HSBC in a research note on Friday, October 10th. Finally, BNP Paribas Exane upgraded shares of HSBC from an "underperform" rating to an "outperform" rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $63.00.

HSBC Price Performance

NYSE HSBC opened at $65.87 on Friday. The stock has a market cap of $227.29 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.72 and a beta of 0.62. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a 12 month low of $43.97 and a 12 month high of $72.21. The company's 50 day moving average is $67.31 and its two-hundred day moving average is $61.53.

HSBC (NYSE:HSBC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.33. The firm had revenue of $16.90 billion for the quarter, compared to analysts' expectations of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. As a group, research analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 15th were given a dividend of $0.495 per share. The ex-dividend date was Friday, August 15th. This represents a $1.98 annualized dividend and a dividend yield of 3.0%. HSBC's dividend payout ratio (DPR) is presently 39.21%.

HSBC 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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