Fisher Asset Management LLC Raises Stock Position in HSBC Holdings plc (NYSE:HSBC)

Fisher Asset Management LLC grew its holdings in HSBC Holdings plc (NYSE:HSBC – Get Rating) by 5.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,970 shares of the financial services provider’s stock after buying an additional 428 shares during the period. Fisher Asset Management LLC’s holdings in HSBC were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in HSBC. Commonwealth Equity Services LLC grew its stake in shares of HSBC by 11.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 36,215 shares of the financial services provider’s stock worth $1,091,000 after buying an additional 3,812 shares in the last quarter. Yousif Capital Management LLC purchased a new position in shares of HSBC during the 4th quarter worth about $1,908,000. CWM LLC purchased a new position in shares of HSBC during the 4th quarter worth about $46,000. Fifth Third Bancorp boosted its stake in shares of HSBC by 37.5% during the 4th quarter. Fifth Third Bancorp now owns 1,433 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 391 shares during the period. Finally, Clarius Group LLC purchased a new position in shares of HSBC during the 4th quarter worth about $342,000. 1.14% of the stock is owned by hedge funds and other institutional investors.

HSBC Trading Up 0.3 %

Shares of HSBC opened at $32.81 on Friday. HSBC Holdings plc has a 1-year low of $24.31 and a 1-year high of $38.61. The company has a 50-day moving average of $32.08 and a 200 day moving average of $33.17. The firm has a market capitalization of $133.96 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 0.49 and a beta of 0.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.89 and a quick ratio of 0.95.

HSBC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, August 19th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.80 annualized dividend and a dividend yield of 5.49%. HSBC’s dividend payout ratio is currently 37.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Exane BNP Paribas cut shares of HSBC from an “outperform” rating to a “neutral” rating in a research note on Wednesday. Royal Bank of Canada lifted their price target on shares of HSBC from GBX 550 ($6.74) to GBX 590 ($7.23) in a research note on Friday, May 6th. Barclays lifted their price target on shares of HSBC from GBX 720 ($8.82) to GBX 780 ($9.56) in a research note on Tuesday. Investec raised shares of HSBC from a “hold” rating to a “buy” rating in a research note on Wednesday, June 15th. Finally, Morgan Stanley lifted their price objective on shares of HSBC from GBX 590 ($7.23) to GBX 624 ($7.65) in a report on Wednesday, July 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $609.86.

HSBC Profile

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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.