HSBC Holdings PLC (HSBC) Stake Increased by Oppenheimer Asset Management Inc.
Oppenheimer Asset Management Inc. boosted its stake in HSBC Holdings PLC (NYSE:HSBC) by 5.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 355,196 shares of the financial services provider’s stock after buying an additional 17,737 shares during the period. Oppenheimer Asset Management Inc.’s holdings in HSBC Holdings PLC were worth $16,478,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of HSBC Holdings PLC by 16.0% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,208 shares of the financial services provider’s stock valued at $102,000 after buying an additional 304 shares during the period. LS Investment Advisors LLC boosted its stake in shares of HSBC Holdings PLC by 2.6% in the second quarter. LS Investment Advisors LLC now owns 2,338 shares of the financial services provider’s stock valued at $108,000 after buying an additional 59 shares during the period. Pictet North America Advisors SA bought a new stake in shares of HSBC Holdings PLC during the first quarter valued at approximately $153,000. Banque Pictet & Cie SA bought a new stake in shares of HSBC Holdings PLC during the first quarter valued at approximately $153,000. Finally, Toronto Dominion Bank boosted its stake in shares of HSBC Holdings PLC by 11.4% in the first quarter. Toronto Dominion Bank now owns 3,919 shares of the financial services provider’s stock valued at $160,000 after buying an additional 400 shares during the period. Institutional investors own 2.23% of the company’s stock.
HSBC Holdings PLC (NYSE:HSBC) opened at 48.61 on Friday. The firm’s 50-day moving average is $48.53 and its 200 day moving average is $44.09. HSBC Holdings PLC has a 12-month low of $35.69 and a 12-month high of $50.86. The stock has a market capitalization of $197.06 billion, a P/E ratio of 99.20 and a beta of 0.89.
HSBC Holdings PLC (NYSE:HSBC) last posted its quarterly earnings data on Monday, July 31st. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. The business had revenue of $13.17 billion during the quarter. HSBC Holdings PLC had a net margin of 1.42% and a return on equity of 2.08%. Equities research analysts anticipate that HSBC Holdings PLC will post $2.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Friday, August 4th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Wednesday, August 2nd. HSBC Holdings PLC’s payout ratio is 400.01%.
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Several brokerages recently commented on HSBC. Zacks Investment Research upgraded shares of HSBC Holdings PLC from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Wednesday, August 2nd. BidaskClub cut shares of HSBC Holdings PLC from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Berenberg Bank cut shares of HSBC Holdings PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.67.
HSBC Holdings PLC Company Profile
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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