Raymond James Financial Services Advisors Inc. acquired a new position in shares of HSBC Holdings plc (NYSE:HSBC – Get Rating) during the 3rd quarter, Holdings Channel reports. The fund acquired 21,769 shares of the financial services provider’s stock, valued at approximately $568,000.
A number of other institutional investors have also recently bought and sold shares of the company. Ieq Capital LLC acquired a new stake in shares of HSBC during the second quarter worth about $340,000. Bailard Inc. raised its holdings in HSBC by 10.5% during the 2nd quarter. Bailard Inc. now owns 9,615 shares of the financial services provider’s stock worth $314,000 after buying an additional 914 shares during the period. Clarius Group LLC lifted its stake in HSBC by 40.6% in the third quarter. Clarius Group LLC now owns 16,721 shares of the financial services provider’s stock valued at $436,000 after buying an additional 4,825 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of HSBC by 5.0% during the second quarter. O Shaughnessy Asset Management LLC now owns 78,849 shares of the financial services provider’s stock worth $2,576,000 after acquiring an additional 3,731 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of HSBC by 35.6% during the second quarter. Steward Partners Investment Advisory LLC now owns 3,806 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 1.26% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on HSBC shares. Jefferies Financial Group upgraded HSBC from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. StockNews.com downgraded HSBC from a “buy” rating to a “hold” rating in a research report on Saturday, October 29th. Keefe, Bruyette & Woods raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research report on Wednesday, October 19th. JPMorgan Chase & Co. raised their target price on shares of HSBC from GBX 530 ($6.56) to GBX 570 ($7.06) in a research report on Tuesday, December 6th. Finally, Exane BNP Paribas raised shares of HSBC from an “underperform” rating to a “neutral” rating in a research report on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $617.67.
HSBC Stock Performance
HSBC (NYSE:HSBC – Get Rating) last issued its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.60). The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $13.80 billion. HSBC had a net margin of 24.55% and a return on equity of 6.04%. On average, equities research analysts expect that HSBC Holdings plc will post 3.68 earnings per share for the current year.
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.
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