HSBC Holdings PLC (NYSE:HSBC) Position Boosted by BTC Capital Management Inc.
BTC Capital Management Inc. increased its position in shares of HSBC Holdings PLC (NYSE:HSBC) by 67.1% during the second quarter, Holdings Channel reports. The fund owned 11,645 shares of the financial services provider’s stock after buying an additional 4,677 shares during the period. BTC Capital Management Inc.’s holdings in HSBC Holdings PLC were worth $540,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Karp Capital Management Corp acquired a new position in HSBC Holdings PLC during the first quarter worth about $47,142,000. LMR Partners LLP increased its position in HSBC Holdings PLC by 1,416.0% in the first quarter. LMR Partners LLP now owns 759,830 shares of the financial services provider’s stock worth $30,947,000 after buying an additional 709,710 shares during the last quarter. Fisher Asset Management LLC increased its position in HSBC Holdings PLC by 4.0% in the second quarter. Fisher Asset Management LLC now owns 13,533,107 shares of the financial services provider’s stock worth $627,801,000 after buying an additional 516,291 shares during the last quarter. Dimensional Fund Advisors LP increased its position in HSBC Holdings PLC by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 13,211,121 shares of the financial services provider’s stock worth $539,278,000 after buying an additional 454,788 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in HSBC Holdings PLC during the first quarter worth about $13,775,000. 2.33% of the stock is currently owned by hedge funds and other institutional investors.
HSBC Holdings PLC (NYSE HSBC) opened at 47.77 on Friday. The company has a 50 day moving average of $47.98 and a 200-day moving average of $43.59. The stock has a market cap of $193.65 billion, a P/E ratio of 97.49 and a beta of 0.89. HSBC Holdings PLC has a 12-month low of $35.24 and a 12-month high of $50.86.
HSBC Holdings PLC (NYSE:HSBC) last issued its earnings results on Monday, July 31st. The financial services provider reported $0.95 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $13.17 billion for the quarter. Equities analysts forecast that HSBC Holdings PLC will post $2.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Friday, August 4th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $2.00 annualized dividend and a yield of 4.19%. HSBC Holdings PLC’s dividend payout ratio is presently 400.01%.
A number of research firms recently issued reports on HSBC. BidaskClub downgraded shares of HSBC Holdings PLC from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research raised shares of HSBC Holdings PLC from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Wednesday, August 2nd. Berenberg Bank downgraded shares of HSBC Holdings PLC from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Morgan Stanley raised shares of HSBC Holdings PLC from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 28th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. HSBC Holdings PLC presently has a consensus rating of “Hold” and a consensus price target of $36.67.
HSBC Holdings PLC Company Profile
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.
Want to see what other hedge funds are holding HSBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HSBC Holdings PLC (NYSE:HSBC).
Receive News & Ratings for HSBC Holdings PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC Holdings PLC and related companies with MarketBeat.com's FREE daily email newsletter.