Aaron Wealth Advisors LLC Purchases 869 Shares of HSBC Holdings plc $HSBC

Aaron Wealth Advisors LLC raised its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 25,691 shares of the financial services provider’s stock after buying an additional 869 shares during the period. Aaron Wealth Advisors LLC’s holdings in HSBC were worth $1,562,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in shares of HSBC by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock valued at $271,438,000 after purchasing an additional 53,072 shares during the period. Northern Trust Corp grew its stake in shares of HSBC by 3.3% in the 1st quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider’s stock valued at $165,002,000 after purchasing an additional 91,789 shares during the period. Contrarian Capital Management L.L.C. grew its stake in shares of HSBC by 425.4% in the 1st quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider’s stock valued at $72,687,000 after purchasing an additional 1,024,780 shares during the period. Royal Bank of Canada grew its stake in shares of HSBC by 18.7% in the 1st quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider’s stock valued at $60,155,000 after purchasing an additional 164,915 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of HSBC by 9.1% in the 1st quarter. American Century Companies Inc. now owns 1,022,231 shares of the financial services provider’s stock valued at $58,707,000 after purchasing an additional 85,166 shares during the period. 1.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America reiterated a “neutral” rating and issued a $63.00 price objective on shares of HSBC in a research note on Tuesday, June 3rd. BNP Paribas Exane raised HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Finally, BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.00.

HSBC Stock Performance

HSBC stock opened at $68.92 on Wednesday. The business’s fifty day moving average is $64.45 and its 200-day moving average is $59.73. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The company has a market cap of $239.19 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.55 and a beta of 0.65. HSBC Holdings plc has a twelve month low of $43.63 and a twelve month high of $69.48.

HSBC (NYSE:HSBC) last posted 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. The company had revenue of $16.90 billion for the quarter, compared to the consensus estimate of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. Equities research analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 15th will be paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 15th. HSBC’s dividend payout ratio (DPR) is presently 39.21%.

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.