Moors & Cabot Inc. Takes Position in HSBC Holdings plc (NYSE:HSBC)

Moors & Cabot Inc. purchased a new position in shares of HSBC Holdings plc (NYSE:HSBC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,497 shares of the financial services provider’s stock, valued at approximately $283,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HSBC. Mission Wealth Management LP grew its stake in shares of HSBC by 21.5% during the first quarter. Mission Wealth Management LP now owns 6,311 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 1,115 shares during the last quarter. Wedmont Private Capital acquired a new stake in shares of HSBC in the 1st quarter valued at $203,000. Pitcairn Co. bought a new stake in shares of HSBC during the first quarter worth $567,000. Insight Folios Inc acquired a new position in shares of HSBC during the first quarter valued at $4,589,000. Finally, Founders Financial Securities LLC acquired a new stake in HSBC in the first quarter worth about $684,000. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Stock Performance

HSBC stock opened at $44.17 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.89 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a twelve month low of $35.30 and a twelve month high of $45.53. The business’s fifty day moving average is $43.10 and its 200-day moving average is $42.53. The company has a market cap of $165.68 billion, a P/E ratio of 7.62, a price-to-earnings-growth ratio of 0.94 and a beta of 0.56.

HSBC (NYSE:HSBC) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter. The firm had revenue of $16.54 billion for the quarter. HSBC had a return on equity of 10.60% and a net margin of 15.61%. Equities research analysts forecast that HSBC Holdings plc will post 5.74 EPS for the current year.

HSBC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend is Friday, August 16th. HSBC’s payout ratio is presently 34.14%.

Analysts Set New Price Targets

Separately, Dbs Bank raised shares of HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

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.