Keybank National Association OH Increases Holdings in HSBC Holdings plc $HSBC

Keybank National Association OH increased its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 335.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,763 shares of the financial services provider’s stock after buying an additional 22,933 shares during the quarter. Keybank National Association OH’s holdings in HSBC were worth $1,809,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in HSBC by 1.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock worth $271,438,000 after buying an additional 53,072 shares in the last quarter. Northern Trust Corp lifted its position in HSBC by 3.3% during the first quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider’s stock worth $165,002,000 after buying an additional 91,789 shares in the last quarter. Contrarian Capital Management L.L.C. lifted its position in HSBC by 425.4% during the first quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider’s stock worth $72,687,000 after buying an additional 1,024,780 shares in the last quarter. Royal Bank of Canada lifted its position in HSBC by 18.7% during the first quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider’s stock worth $60,155,000 after buying an additional 164,915 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in HSBC by 9.1% during the first quarter. American Century Companies Inc. now owns 1,022,231 shares of the financial services provider’s stock worth $58,707,000 after buying an additional 85,166 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Price Performance

HSBC stock opened at $70.06 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $241.74 billion, a PE ratio of 14.75, a P/E/G ratio of 1.30 and a beta of 0.62. HSBC Holdings plc has a 12-month low of $44.40 and a 12-month high of $72.21. The business’s fifty day moving average price is $67.95 and its 200 day moving average price is $62.98.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.15. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. On average, sell-side analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, November 7th will be issued a $0.50 dividend. The ex-dividend date is Friday, November 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.9%. This is a boost from HSBC’s previous quarterly dividend of $0.50. HSBC’s dividend payout ratio (DPR) is presently 41.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HSBC shares. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Zacks Research downgraded HSBC from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. Citigroup restated a “buy” rating on shares of HSBC in a research report on Tuesday, October 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of HSBC in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.00.

About HSBC

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.