Weil Company Inc. Invests $230,000 in HSBC Holdings plc (NYSE:HSBC)

Weil Company Inc. purchased a new position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,000 shares of the financial services provider's stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also made changes to their positions in HSBC. Orion Portfolio Solutions LLC grew its stake in HSBC by 23.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 41,933 shares of the financial services provider's stock valued at $2,074,000 after acquiring an additional 7,908 shares during the last quarter. National Bank of Canada FI grew its stake in HSBC by 739.7% in the 4th quarter. National Bank of Canada FI now owns 15,577 shares of the financial services provider's stock valued at $770,000 after acquiring an additional 13,722 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in HSBC in the 4th quarter valued at about $3,998,000. Charles Schwab Investment Management Inc. grew its stake in HSBC by 21.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 261,135 shares of the financial services provider's stock valued at $12,916,000 after acquiring an additional 45,387 shares during the last quarter. Finally, TrueMark Investments LLC acquired a new stake in HSBC in the 1st quarter valued at about $2,616,000. 1.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Bank of America reissued a "neutral" rating and issued a $63.00 price objective on shares of HSBC in a research note on Tuesday, June 3rd. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $63.00.

HSBC Trading Down 1.8%

Shares of HSBC stock traded down $1.11 during mid-day trading on Friday, hitting $61.67. 1,217,196 shares of the stock were exchanged, compared to its average volume of 1,760,356. HSBC Holdings plc has a twelve month low of $39.42 and a twelve month high of $62.87. The stock has a market capitalization of $215.32 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.97 and a beta of 0.57. The company has a 50-day simple moving average of $59.49 and a 200 day simple moving average of $55.72. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

HSBC (NYSE:HSBC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.35. The company had revenue of $17.74 billion for the quarter, compared to analysts' expectations of $16.60 billion. HSBC had a net margin of 14.55% and a return on equity of 12.55%. Research analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, May 12th were issued a dividend of $0.495 per share. The ex-dividend date was Friday, May 9th. This represents a dividend yield of 3.5%. HSBC's payout ratio is currently 36.33%.

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.