US Bancorp DE Grows Stock Position in HSBC Holdings plc (NYSE:HSBC)

US Bancorp DE lifted its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,682 shares of the financial services provider’s stock after purchasing an additional 1,333 shares during the quarter. US Bancorp DE’s holdings in HSBC were worth $6,356,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of HSBC by 79.8% during the 4th quarter. JPMorgan Chase & Co. now owns 102,207 shares of the financial services provider’s stock worth $5,055,000 after purchasing an additional 45,347 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in HSBC during the fourth quarter worth about $3,998,000. Franklin Resources Inc. grew its position in HSBC by 3.1% during the fourth quarter. Franklin Resources Inc. now owns 397,408 shares of the financial services provider’s stock worth $19,656,000 after buying an additional 11,864 shares during the period. National Bank of Canada FI increased its holdings in HSBC by 739.7% in the fourth quarter. National Bank of Canada FI now owns 15,577 shares of the financial services provider’s stock valued at $770,000 after buying an additional 13,722 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of HSBC by 5.3% during the 4th quarter. Wells Fargo & Company MN now owns 289,887 shares of the financial services provider’s stock valued at $14,338,000 after acquiring an additional 14,640 shares during the period. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Bank of America reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of HSBC in a research note on Tuesday, June 3rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.00.

HSBC Price Performance

Shares of NYSE HSBC opened at $61.82 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market cap of $215.83 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.39 and a beta of 0.60. The company’s 50-day moving average price is $61.07 and its 200 day moving average price is $57.35. HSBC Holdings plc has a 52 week low of $39.42 and a 52 week high of $65.75.

HSBC (NYSE:HSBC) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The business had revenue of $16.90 billion during the quarter, compared to analysts’ expectations of $16.64 billion. As a group, research analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Profile

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.