HSBC Holdings plc (NYSE:HSBC) Shares Bought by Caas Capital Management LP

Caas Capital Management LP grew its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 6.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,529 shares of the financial services provider’s stock after purchasing an additional 4,492 shares during the quarter. HSBC makes up about 0.5% of Caas Capital Management LP’s holdings, making the stock its 13th biggest position. Caas Capital Management LP’s holdings in HSBC were worth $4,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Wayfinding Financial LLC acquired a new position in HSBC in the 1st quarter valued at $30,000. CoreCap Advisors LLC increased its stake in HSBC by 342.9% in the 4th quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider’s stock valued at $29,000 after buying an additional 456 shares during the period. Garde Capital Inc. acquired a new position in HSBC in the 1st quarter valued at $43,000. Bessemer Group Inc. increased its stake in HSBC by 51.0% in the 1st quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider’s stock valued at $50,000 after buying an additional 292 shares during the period. Finally, Spire Wealth Management increased its stake in HSBC by 59.4% in the 1st quarter. Spire Wealth Management now owns 1,320 shares of the financial services provider’s stock valued at $76,000 after buying an additional 492 shares during the period. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Trading Up 1.2%

NYSE HSBC opened at $62.79 on Friday. HSBC Holdings plc has a 12 month low of $39.42 and a 12 month high of $62.87. The company has a 50-day moving average of $59.39 and a 200-day moving average of $55.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $220.76 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.95 and a beta of 0.57.

HSBC (NYSE:HSBC) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.35. The firm had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $16.60 billion. HSBC had a net margin of 14.55% and a return on equity of 12.55%. As a group, equities analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

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

Analysts Set New Price Targets

Separately, Bank of America restated a “neutral” rating and set a $63.00 target price on shares of HSBC in a research report on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, HSBC currently has a consensus 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.