Commonwealth Equity Services LLC Grows Holdings in HSBC Holdings plc (NYSE:HSBC)

Commonwealth Equity Services LLC increased its position in shares of HSBC Holdings plc (NYSE:HSBC) by 8.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,736 shares of the financial services provider’s stock after buying an additional 4,021 shares during the period. Commonwealth Equity Services LLC’s holdings in HSBC were worth $1,958,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in HSBC by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,621,349 shares of the financial services provider’s stock worth $471,129,000 after buying an additional 376,641 shares during the period. Morgan Stanley increased its position in shares of HSBC by 0.9% in the 3rd quarter. Morgan Stanley now owns 8,374,688 shares of the financial services provider’s stock worth $330,465,000 after purchasing an additional 73,129 shares during the last quarter. American Century Companies Inc. increased its position in shares of HSBC by 39.4% in the 3rd quarter. American Century Companies Inc. now owns 698,250 shares of the financial services provider’s stock worth $27,553,000 after purchasing an additional 197,283 shares during the last quarter. Raymond James & Associates increased its position in shares of HSBC by 3.6% in the 1st quarter. Raymond James & Associates now owns 352,093 shares of the financial services provider’s stock worth $13,858,000 after purchasing an additional 12,313 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of HSBC by 48.0% in the 4th quarter. QRG Capital Management Inc. now owns 251,509 shares of the financial services provider’s stock worth $10,196,000 after purchasing an additional 81,567 shares during the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays reissued an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HSBC has a consensus rating of “Hold” and an average price target of $761.75.

HSBC Price Performance

Shares of HSBC traded down $0.59 during midday trading on Friday, reaching $43.31. The stock had a trading volume of 472,645 shares, compared to its average volume of 1,935,061. HSBC Holdings plc has a 52 week low of $35.30 and a 52 week high of $45.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s 50 day moving average price is $44.03 and its 200-day moving average price is $41.08. The company has a market capitalization of $162.45 billion, a P/E ratio of 7.46, a P/E/G ratio of 1.05 and a beta of 0.58.

HSBC (NYSE:HSBC) last released its earnings results on Tuesday, April 30th. The financial services provider reported $1.70 EPS for the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.80%. The business had revenue of $20.75 billion for the quarter. On average, analysts forecast that HSBC Holdings plc will post 6.35 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 10th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.62%. The ex-dividend date was Thursday, May 9th. HSBC’s dividend payout ratio (DPR) is currently 34.14%.

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.