Bank of Montreal Can Acquires 133,591 Shares of HSBC Holdings plc $HSBC

Bank of Montreal Can raised its holdings in HSBC Holdings plc (NYSE:HSBC) by 175.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 209,666 shares of the financial services provider’s stock after acquiring an additional 133,591 shares during the quarter. Bank of Montreal Can’s holdings in HSBC were worth $12,746,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Contrarian Capital Management L.L.C. grew its holdings in shares of HSBC by 425.4% in the first quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider’s stock worth $72,687,000 after purchasing an additional 1,024,780 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in HSBC by 729.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,953 shares of the financial services provider’s stock worth $22,280,000 after acquiring an additional 341,187 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in shares of HSBC during the first quarter worth approximately $17,430,000. Royal Bank of Canada raised its stake in shares of HSBC by 18.7% during the first quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider’s stock valued at $60,155,000 after acquiring an additional 164,915 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of HSBC by 3.3% in the first quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider’s stock valued at $165,002,000 after purchasing an additional 91,789 shares during the period. 1.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HSBC shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Citigroup restated a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Zacks Research raised HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of HSBC in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, HSBC currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

HSBC Stock Performance

Shares of HSBC opened at $71.24 on Friday. HSBC Holdings plc has a 12 month low of $44.40 and a 12 month high of $72.34. The stock has a fifty day moving average price of $68.54 and a 200-day moving average price of $63.54. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. The firm has a market cap of $245.80 billion, a PE ratio of 15.00, a P/E/G ratio of 1.30 and a beta of 0.64.

HSBC (NYSE:HSBC) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.15. The company had revenue of $17.90 billion for the quarter, compared to analyst estimates of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. Equities research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $2.00 annualized dividend and a yield of 2.8%. This is a boost from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is presently 41.68%.

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.