First Citizens Bank & Trust Co. Takes Position in HSBC Holdings plc (NYSE:HSBC)

First Citizens Bank & Trust Co. acquired a new position in HSBC Holdings plc (NYSE:HSBC) during the 1st quarter, HoldingsChannel reports. The fund acquired 3,907 shares of the financial services provider’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC raised its holdings in 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. Northern Trust Corp raised its stake in HSBC by 52.0% during the fourth quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider’s stock worth $137,563,000 after buying an additional 951,050 shares during the last quarter. American Century Companies Inc. lifted its holdings in HSBC by 4.5% in the fourth quarter. American Century Companies Inc. now owns 937,065 shares of the financial services provider’s stock valued at $46,347,000 after buying an additional 40,388 shares during the period. GAMMA Investing LLC boosted its position in HSBC by 7,061.5% during the first quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider’s stock valued at $321,210,000 after acquiring an additional 551,501 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in HSBC by 26.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 401,960 shares of the financial services provider’s stock valued at $19,881,000 after acquiring an additional 85,104 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Trading Down 0.2%

HSBC opened at $59.42 on Thursday. HSBC Holdings plc has a fifty-two week low of $39.42 and a fifty-two week high of $61.88. The firm has a market capitalization of $208.92 billion, a PE ratio of 9.58, a P/E/G ratio of 1.05 and a beta of 0.58. 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 company’s 50-day moving average is $56.01 and its 200 day moving average is $53.81.

HSBC (NYSE:HSBC) last issued its quarterly earnings data 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 firm had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $16.60 billion. As a group, research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. Wall Street Zen upgraded HSBC from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. UBS Group reiterated a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. Finally, Bank of America reissued a “neutral” rating and set a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.00.

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.