Foster Group Inc. Takes Position in HSBC Holdings plc (NYSE:HSBC)

Foster Group Inc. acquired a new position in shares of HSBC Holdings plc (NYSE:HSBC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,862 shares of the financial services provider’s stock, valued at approximately $279,000.

Other large investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in HSBC by 58.2% in the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after buying an additional 210 shares during the last quarter. CoreCap Advisors LLC increased its holdings in HSBC by 342.9% in the 4th quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 456 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in HSBC in the 4th quarter worth about $30,000. Sierra Ocean LLC purchased a new position in shares of HSBC in the fourth quarter worth about $73,000. Finally, Ameriflex Group Inc. purchased a new position in shares of HSBC in the fourth quarter worth about $86,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Price Performance

Shares of NYSE:HSBC opened at $59.96 on Friday. The company has a 50 day moving average of $55.65 and a 200 day moving average of $53.53. The stock has a market cap of $211.94 billion, a P/E ratio of 9.67, a P/E/G ratio of 1.05 and a beta of 0.53. HSBC Holdings plc has a 12 month low of $39.42 and a 12 month high of $61.88. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.35. The firm had revenue of $17.74 billion during the quarter, compared to analyst estimates of $16.60 billion. HSBC had a net margin of 16.17% and a return on equity of 12.20%. As a group, sell-side analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 12th will be given a dividend of $0.495 per share. This represents a yield of 3.5%. The ex-dividend date of this dividend is Friday, May 9th. HSBC’s payout ratio is 36.33%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HSBC. Barclays upgraded shares of HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. UBS Group reiterated a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. Bank of America reiterated a “neutral” rating and issued a $63.00 price target on shares of HSBC in a research report on Tuesday. Finally, Wall Street Zen upgraded HSBC from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.