Rockefeller Capital Management L.P. Raises Holdings in HSBC Holdings plc $HSBC

Rockefeller Capital Management L.P. boosted its stake in HSBC Holdings plc (NYSE:HSBC) by 20.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,718 shares of the financial services provider’s stock after buying an additional 7,802 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in HSBC were worth $2,840,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Contrarian Capital Management L.L.C. lifted its position 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 valued at $72,687,000 after acquiring an additional 1,024,780 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 valued at $22,280,000 after purchasing an additional 341,187 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of HSBC during the 1st quarter worth about $17,430,000. Royal Bank of Canada grew its holdings 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 worth $60,155,000 after buying an additional 164,915 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of HSBC by 175.6% in the second quarter. Bank of Montreal Can now owns 209,666 shares of the financial services provider’s stock valued at $12,746,000 after buying an additional 133,591 shares during the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

Shares of NYSE:HSBC opened at $68.92 on Friday. The business has a 50-day moving average of $69.50 and a two-hundred day moving average of $64.57. The firm has a market capitalization of $237.82 billion, a PE ratio of 14.51, a P/E/G ratio of 1.30 and a beta of 0.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.93. HSBC Holdings plc has a 12 month low of $45.59 and a 12 month high of $74.17.

HSBC (NYSE:HSBC) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. HSBC had a return on equity of 12.78% and a net margin of 12.85%.The business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $16.78 billion. As a group, research analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 7th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is 41.68%.

Analysts Set New Price Targets

HSBC has been the topic of a number of analyst reports. BNP Paribas upgraded shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. Citigroup restated a “buy” rating on shares of HSBC in a report on Tuesday, October 21st. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a research note on Friday, October 10th. Erste Group Bank raised HSBC from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of HSBC in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

HSBC Company 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.