Vident Advisory LLC Buys 5,472 Shares of HSBC Holdings plc $HSBC

Key Points

• Vident Advisory LLC increased its stake in HSBC Holdings plc by 8.7% after purchasing an additional 5,472 shares, bringing its total holdings to 68,559 shares valued at approximately $3.94 million.
• HSBC reported $1.95 earnings per share (EPS) for the latest quarter, exceeding analysts' expectations of $1.62, with revenues of $16.90 billion.
• Bank of America has set a "neutral" rating on HSBC with a price target of $63.00, and analysts currently have a consensus rating of "Hold" for the stock.

Vident Advisory LLC increased its position in HSBC Holdings plc (NYSE:HSBC - Free Report) by 8.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,559 shares of the financial services provider's stock after acquiring an additional 5,472 shares during the period. Vident Advisory LLC's holdings in HSBC were worth $3,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its stake in HSBC by 342.9% in the fourth quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 456 shares in the last quarter. Wayfinding Financial LLC acquired a new position in HSBC in the first quarter valued at $30,000. Garde Capital Inc. acquired a new position in HSBC in the first quarter valued at $43,000. Elequin Capital LP boosted its stake in HSBC by 282.2% in the first quarter. Elequin Capital LP now owns 772 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 570 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in HSBC by 51.0% in the first quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company's stock.

HSBC Trading Up 1.0%

NYSE HSBC traded up $0.67 during mid-day trading on Wednesday, reaching $64.75. 1,778,987 shares of the stock were exchanged, compared to its average volume of 2,031,789. HSBC Holdings plc has a 1-year low of $42.38 and a 1-year high of $66.05. The business's fifty day simple moving average is $63.16 and its 200 day simple moving average is $59.03. The stock has a market capitalization of $226.07 billion, a PE ratio of 12.82, a PEG ratio of 1.44 and a beta of 0.65. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86.

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

HSBC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 15th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, August 15th. HSBC's dividend payout ratio (DPR) is 39.21%.

Analysts Set New Price Targets

Separately, Bank of America reissued a "neutral" rating and set a $63.00 price target on shares of HSBC in a report on Tuesday, June 3rd. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $63.00.

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.