Cutter & CO Brokerage Inc. Purchases Shares of 7,122 HSBC Holdings plc (NYSE:HSBC)

Cutter & CO Brokerage Inc. purchased a new stake in HSBC Holdings plc (NYSE:HSBC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,122 shares of the financial services provider’s stock, valued at approximately $409,000.

Several other large investors have also recently added to or reduced their stakes in HSBC. CoreCap Advisors LLC raised its holdings 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 acquiring an additional 456 shares in the last quarter. Wayfinding Financial LLC acquired a new position in HSBC in the 1st quarter valued at approximately $30,000. Garde Capital Inc. acquired a new position in HSBC in the 1st quarter valued at approximately $43,000. Bessemer Group Inc. raised its holdings 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 acquiring an additional 292 shares in the last quarter. Finally, Spire Wealth Management grew its stake in shares of 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 purchasing an additional 492 shares during the period. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analyst Ratings Changes

Separately, Bank of America reiterated a “neutral” rating and issued a $63.00 price objective 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.

HSBC Trading Down 1.8%

HSBC stock opened at $61.67 on Monday. HSBC Holdings plc has a 1-year low of $39.42 and a 1-year high of $62.87. The firm has a market cap of $215.32 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.94 and a beta of 0.57. The business’s 50 day moving average is $59.49 and its 200-day moving average is $55.81. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

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 analysts’ consensus estimates of $1.60 by $0.35. The business had revenue of $17.74 billion for the quarter, compared to analyst estimates of $16.60 billion. HSBC had a return on equity of 12.55% and a net margin of 14.55%. Equities analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

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