Traynor Capital Management Inc. Buys Shares of 6,927 HSBC Holdings PLC (NYSE:HSBC)
Traynor Capital Management Inc. bought a new stake in HSBC Holdings PLC (NYSE:HSBC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,927 shares of the financial services provider’s stock, valued at approximately $334,000.
Several other institutional investors also recently bought and sold shares of the company. Quantitative Systematic Strategies LLC bought a new position in HSBC Holdings PLC during the first quarter valued at approximately $394,000. Toronto Dominion Bank increased its position in HSBC Holdings PLC by 11.4% in the first quarter. Toronto Dominion Bank now owns 3,919 shares of the financial services provider’s stock valued at $160,000 after buying an additional 400 shares during the period. Massachusetts Financial Services Co. MA increased its position in HSBC Holdings PLC by 9.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 131,437 shares of the financial services provider’s stock valued at $5,365,000 after buying an additional 10,841 shares during the period. Greenleaf Trust increased its position in HSBC Holdings PLC by 26.8% in the second quarter. Greenleaf Trust now owns 13,595 shares of the financial services provider’s stock valued at $631,000 after buying an additional 2,877 shares during the period. Finally, Sit Investment Associates Inc. increased its position in HSBC Holdings PLC by 46.8% in the first quarter. Sit Investment Associates Inc. now owns 74,765 shares of the financial services provider’s stock valued at $3,052,000 after buying an additional 23,825 shares during the period. Institutional investors and hedge funds own 2.33% of the company’s stock.
Shares of HSBC Holdings PLC (NYSE:HSBC) traded down 0.66% during trading on Friday, reaching $47.87. The company’s stock had a trading volume of 256,197 shares. The firm’s 50-day moving average is $47.85 and its 200 day moving average is $43.54. HSBC Holdings PLC has a 52-week low of $35.14 and a 52-week high of $50.86. The company has a market cap of $194.06 billion, a PE ratio of 97.69 and a beta of 0.89.
HSBC Holdings PLC (NYSE:HSBC) last announced its earnings results on Monday, July 31st. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.08. HSBC Holdings PLC had a return on equity of 2.08% and a net margin of 1.42%. The business had revenue of $13.17 billion during the quarter. On average, equities research analysts predict that HSBC Holdings PLC will post $2.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Friday, August 4th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Wednesday, August 2nd. HSBC Holdings PLC’s dividend payout ratio (DPR) is presently 400.01%.
HSBC has been the subject of several analyst reports. Zacks Investment Research upgraded HSBC Holdings PLC from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Wednesday, August 2nd. BidaskClub upgraded HSBC Holdings PLC from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Berenberg Bank downgraded HSBC Holdings PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Morgan Stanley upgraded HSBC Holdings PLC from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 28th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. HSBC Holdings PLC currently has a consensus rating of “Hold” and a consensus price target of $36.67.
About HSBC Holdings PLC
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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