Prospera Financial Services Inc Has $1.24 Million Position in HSBC Holdings plc $HSBC

Prospera Financial Services Inc boosted its holdings in HSBC Holdings plc (NYSE:HSBC) by 53.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,337 shares of the financial services provider’s stock after buying an additional 7,072 shares during the quarter. Prospera Financial Services Inc’s holdings in HSBC were worth $1,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HSBC. Allworth Financial LP grew its position in shares of HSBC by 24.9% in the 1st quarter. Allworth Financial LP now owns 1,824 shares of the financial services provider’s stock valued at $102,000 after buying an additional 364 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of HSBC by 22.1% in the first quarter. Cerity Partners LLC now owns 95,768 shares of the financial services provider’s stock worth $5,500,000 after acquiring an additional 17,321 shares during the period. SBI Securities Co. Ltd. boosted its holdings in HSBC by 5.1% in the first quarter. SBI Securities Co. Ltd. now owns 20,043 shares of the financial services provider’s stock valued at $1,151,000 after acquiring an additional 978 shares during the last quarter. Larson Financial Group LLC increased its position in HSBC by 32.1% during the 1st quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 249 shares during the period. Finally, Bridgewater Advisors Inc. bought a new position in HSBC during the 1st quarter worth approximately $443,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Stock Performance

Shares of HSBC stock opened at $73.43 on Thursday. 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 fifty day simple moving average of $69.04 and a two-hundred day simple moving average of $63.89. HSBC Holdings plc has a 12 month low of $44.54 and a 12 month high of $73.66. The firm has a market capitalization of $253.38 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64.

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

HSBC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. This is a positive change from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is presently 41.68%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HSBC shares. Citigroup reissued a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. Zacks Research raised HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a report on Friday, October 10th. Finally, BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, HSBC presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

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.