Richard P Slaughter Associates Inc Decreases Stake in HSBC Holdings plc (NYSE:HSBC)

Richard P Slaughter Associates Inc lessened its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 84.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,006 shares of the financial services provider’s stock after selling 33,110 shares during the period. Richard P Slaughter Associates Inc’s holdings in HSBC were worth $345,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of HSBC. Northern Trust Corp raised 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 acquiring an additional 951,050 shares during the period. GAMMA Investing LLC increased its position 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 during the last quarter. FMR LLC increased its position in shares of HSBC by 18.1% during the 4th quarter. FMR LLC now owns 2,883,238 shares of the financial services provider’s stock worth $142,605,000 after purchasing an additional 441,033 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of HSBC during the 4th quarter worth about $17,815,000. Finally, Contrarian Capital Management L.L.C. acquired a new position in HSBC in the 4th quarter valued at about $11,914,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on HSBC shares. UBS Group reissued a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. Bank of America reiterated a “neutral” rating and issued a $63.00 price objective on shares of HSBC in a research note on Tuesday. Wall Street Zen upgraded HSBC from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Barclays upgraded HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.00.

HSBC Price Performance

HSBC stock opened at $59.40 on Wednesday. HSBC Holdings plc has a 12 month low of $39.42 and a 12 month high of $61.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. The business has a 50 day simple moving average of $55.52 and a 200-day simple moving average of $53.30. The stock has a market capitalization of $209.94 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.05 and a beta of 0.53.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.60 by $0.35. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The business had revenue of $17.74 billion during the quarter, compared to analysts’ expectations of $16.60 billion. Equities analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 12th will be given a $0.495 dividend. This represents a yield of 3.5%. The ex-dividend date of this dividend is Friday, May 9th. HSBC’s payout ratio is 36.33%.

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.