Sanibel Captiva Trust Company Inc. Acquires New Shares in HSBC Holdings plc (NYSE:HSBC)

Sanibel Captiva Trust Company Inc. acquired a new stake in shares of HSBC Holdings plc (NYSE:HSBC) during the first quarter, according to its most recent filing with the SEC. The fund acquired 4,424 shares of the financial services provider’s stock, valued at approximately $254,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC raised its stake in shares of HSBC by 58.2% during the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 210 shares during the period. CoreCap Advisors LLC increased its stake 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 bought a new position in HSBC in the 4th quarter worth about $30,000. Sierra Ocean LLC bought a new position in HSBC in the 4th quarter worth about $73,000. Finally, Ameriflex Group Inc. bought a new position in HSBC in the 4th quarter worth about $86,000. 1.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HSBC shares. Barclays upgraded HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. Bank of America restated a “neutral” rating and issued a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. Wall Street Zen upgraded HSBC from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, UBS Group reiterated a “neutral” rating on shares of HSBC in a report on Thursday, March 6th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.00.

HSBC Price Performance

HSBC opened at $59.42 on Thursday. The stock has a 50-day moving average price of $56.01 and a 200-day moving average price of $53.81. 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. The stock has a market capitalization of $208.92 billion, a P/E ratio of 9.58, a PEG ratio of 1.05 and a beta of 0.58.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.35. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The firm had revenue of $17.74 billion during the quarter, compared to analysts’ expectations of $16.60 billion. Equities analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

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

HSBC Company 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.