Creative Planning Purchases 14,368 Shares of HSBC Holdings plc $HSBC

Creative Planning boosted its position in HSBC Holdings plc (NYSE:HSBC) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 313,074 shares of the financial services provider’s stock after purchasing an additional 14,368 shares during the period. Creative Planning’s holdings in HSBC were worth $19,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of HSBC by 32.1% during the 1st quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 249 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new stake in HSBC in the first quarter worth $229,000. Lindbrook Capital LLC lifted its position in shares of HSBC by 4.7% during the first quarter. Lindbrook Capital LLC now owns 8,543 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 387 shares during the last quarter. Choreo LLC boosted its stake in shares of HSBC by 4.8% during the first quarter. Choreo LLC now owns 22,439 shares of the financial services provider’s stock valued at $1,329,000 after purchasing an additional 1,025 shares during the period. Finally, SYM FINANCIAL Corp grew its holdings in shares of HSBC by 24.0% in the first quarter. SYM FINANCIAL Corp now owns 6,016 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 1,165 shares during the last quarter. Institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

Shares of NYSE:HSBC opened at $71.29 on Tuesday. The firm has a 50 day moving average of $69.44 and a 200 day moving average of $64.28. The company has a quick ratio of 0.93, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $245.99 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. HSBC Holdings plc has a 52 week low of $45.59 and a 52 week high of $74.17.

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 business had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. On average, sell-side analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HSBC. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HSBC in a research note on Thursday. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. Citigroup restated a “buy” rating on shares of HSBC in a report on Tuesday, October 21st. Finally, BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, HSBC has a consensus rating of “Moderate Buy” and an average target price of $63.00.

About HSBC

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.