Corient IA LLC Makes New Investment in HSBC Holdings plc (NYSE:HSBC)

Corient IA LLC purchased a new position in HSBC Holdings plc (NYSE:HSBC) during the 1st quarter, HoldingsChannel reports. The firm purchased 10,000 shares of the financial services provider’s stock, valued at approximately $574,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp grew its holdings in shares of HSBC by 52.0% during the 4th quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider’s stock worth $137,563,000 after purchasing an additional 951,050 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of HSBC by 9.1% during the 1st quarter. American Century Companies Inc. now owns 1,022,231 shares of the financial services provider’s stock worth $58,707,000 after purchasing an additional 85,166 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of HSBC by 7,061.5% during the 1st quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider’s stock worth $321,210,000 after purchasing an additional 551,501 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in HSBC by 729.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,953 shares of the financial services provider’s stock valued at $22,280,000 after buying an additional 341,187 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in HSBC by 5.6% in the 1st quarter. QRG Capital Management Inc. now owns 366,245 shares of the financial services provider’s stock valued at $21,033,000 after buying an additional 19,584 shares in the last quarter. 1.48% of the stock is owned by institutional investors.

HSBC Price Performance

Shares of HSBC stock opened at $63.83 on Friday. The stock’s fifty day simple moving average is $61.88 and its 200 day simple moving average is $58.08. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.93. The firm has a market cap of $222.86 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.43 and a beta of 0.60. HSBC Holdings plc has a one year low of $42.38 and a one year high of $65.77.

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

HSBC Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, September 26th. Shareholders of record on Monday, August 18th will be given a $0.495 dividend. The ex-dividend date is Friday, August 15th. This represents a yield of 308.0%. HSBC’s payout ratio is presently 39.21%.

Analyst Ratings Changes

Separately, Bank of America reaffirmed a “neutral” rating and issued a $63.00 price target on shares of HSBC in a research note on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.