HSBC Holdings plc $HSBC Position Lifted by Abel Hall LLC

Abel Hall LLC grew its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,899 shares of the financial services provider’s stock after acquiring an additional 366 shares during the period. Abel Hall LLC’s holdings in HSBC were worth $723,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Westover Capital Advisors LLC lifted its position in shares of HSBC by 2.5% during the first quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 200 shares during the last quarter. Contravisory Investment Management Inc. lifted its holdings in HSBC by 4.4% during the 2nd quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider’s stock worth $302,000 after buying an additional 210 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of HSBC by 1.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 17,094 shares of the financial services provider’s stock worth $988,000 after acquiring an additional 223 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of HSBC by 101.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 234 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of HSBC by 32.1% during the 1st quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 249 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Price Performance

NYSE HSBC opened at $70.71 on Wednesday. The company has a 50-day moving average price of $66.52 and a two-hundred day moving average price of $61.02. HSBC Holdings plc has a 52 week low of $43.81 and a 52 week high of $72.21. The stock has a market cap of $245.39 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

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

HSBC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 15th were paid a $0.495 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.8%. HSBC’s dividend payout ratio is presently 39.21%.

Wall Street Analyst Weigh In

A number of research firms have commented on HSBC. Zacks Research downgraded shares of HSBC from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Citigroup restated a “buy” rating on shares of HSBC in a research report on Monday, September 22nd. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of HSBC in a research note on Saturday, September 27th. Finally, BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, HSBC presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

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.