3,499 Shares in HSBC Holdings plc $HSBC Acquired by Tower Wealth Partners Inc.

Tower Wealth Partners Inc. acquired a new position in shares of HSBC Holdings plc (NYSE:HSBC) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,499 shares of the financial services provider’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HSBC. GAMMA Investing LLC boosted its position in HSBC by 24.7% in the 1st quarter. GAMMA Investing LLC now owns 9,739 shares of the financial services provider’s stock valued at $559,000 after buying an additional 1,929 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in HSBC by 6.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,391 shares of the financial services provider’s stock valued at $1,688,000 after buying an additional 1,897 shares during the period. Janney Montgomery Scott LLC boosted its position in HSBC by 23.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 60,401 shares of the financial services provider’s stock valued at $3,469,000 after buying an additional 11,463 shares during the period. Sagespring Wealth Partners LLC boosted its position in HSBC by 27.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 16,482 shares of the financial services provider’s stock valued at $947,000 after buying an additional 3,531 shares during the period. Finally, Clarius Group LLC boosted its position in HSBC by 30.8% in the 1st quarter. Clarius Group LLC now owns 13,947 shares of the financial services provider’s stock valued at $801,000 after buying an additional 3,286 shares during the period. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Trading Down 0.7%

NYSE HSBC opened at $66.39 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. The firm has a market cap of $229.08 billion, a PE ratio of 13.15, a P/E/G ratio of 1.69 and a beta of 0.62. HSBC Holdings plc has a one year low of $43.97 and a one year high of $72.21. The firm’s fifty day moving average is $67.20 and its two-hundred day moving average is $61.39.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.33. The company had revenue of $16.90 billion for the quarter, compared to analyst estimates of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. Analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 15th were paid a $0.495 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a yield of 3.0%. HSBC’s payout ratio is currently 39.21%.

Analysts Set New Price Targets

HSBC has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HSBC in a research report on Wednesday, October 8th. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research report on Monday, September 22nd. Jefferies Financial Group reaffirmed a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Finally, Zacks Research cut shares of HSBC from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average 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.