Versant Capital Management Inc Raises Position in HSBC Holdings plc (NYSE:HSBC)

Versant Capital Management Inc raised its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 859.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 14,377 shares of the financial services provider’s stock after acquiring an additional 12,879 shares during the period. Versant Capital Management Inc’s holdings in HSBC were worth $826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HSBC. Northern Trust Corp increased its stake in shares of HSBC by 52.0% in the fourth quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider’s stock worth $137,563,000 after buying an additional 951,050 shares during the period. FMR LLC raised its stake in shares of HSBC by 18.1% during the fourth quarter. FMR LLC now owns 2,883,238 shares of the financial services provider’s stock valued at $142,605,000 after acquiring an additional 441,033 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of HSBC during the fourth quarter worth about $17,815,000. Contrarian Capital Management L.L.C. bought a new stake in shares of HSBC in the fourth quarter worth about $11,914,000. Finally, Bank of New York Mellon Corp increased its holdings in HSBC by 135.6% during the 4th quarter. Bank of New York Mellon Corp now owns 347,565 shares of the financial services provider’s stock valued at $17,191,000 after purchasing an additional 200,054 shares during the period. 1.48% of the stock is owned by institutional investors.

HSBC Trading Up 0.8%

HSBC opened at $59.15 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. HSBC Holdings plc has a 52 week low of $39.42 and a 52 week high of $61.88. The stock has a market cap of $209.08 billion, a PE ratio of 9.54, a PEG ratio of 1.05 and a beta of 0.53. The business has a 50 day moving average of $55.45 and a 200-day moving average of $52.94.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.60 by $0.35. The business had revenue of $17.74 billion during the quarter, compared to analyst estimates of $16.60 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. Equities research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 12th will be given a $0.495 dividend. The ex-dividend date is Friday, May 9th. This represents a dividend yield of 3.5%. HSBC’s dividend payout ratio is currently 36.33%.

Analysts Set New Price Targets

Several research firms have weighed in on HSBC. Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a report on Monday, February 3rd. Wall Street Zen raised HSBC from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Barclays raised shares of HSBC from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. UBS Group reaffirmed a “neutral” rating on shares of HSBC in a research report on Thursday, March 6th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, HSBC has a consensus rating of “Moderate Buy”.

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.