Integrated Wealth Concepts LLC Has $685,000 Position in HSBC Holdings plc $HSBC

Integrated Wealth Concepts LLC reduced its holdings in HSBC Holdings plc (NYSE:HSBC) by 18.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 11,931 shares of the financial services provider’s stock after selling 2,642 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in HSBC were worth $685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in HSBC in the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC increased its holdings in HSBC by 342.9% in the fourth quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 456 shares during the period. Garde Capital Inc. acquired a new stake in HSBC in the first quarter valued at $43,000. Elequin Capital LP increased its stake in shares of HSBC by 282.2% in the first quarter. Elequin Capital LP now owns 772 shares of the financial services provider’s stock valued at $44,000 after buying an additional 570 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of HSBC by 51.0% in the first quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider’s stock valued at $50,000 after buying an additional 292 shares during the period. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America reissued a “neutral” rating and issued a $63.00 price target on shares of HSBC in a research note on Tuesday, June 3rd. BNP Paribas upgraded shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. Finally, BNP Paribas Exane upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

HSBC Price Performance

HSBC stock opened at $68.64 on Friday. The company has a market capitalization of $238.21 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.54 and a beta of 0.65. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. HSBC Holdings plc has a 52-week low of $43.38 and a 52-week high of $69.32. The business has a 50-day simple moving average of $64.13 and a two-hundred day simple moving average of $59.58.

HSBC (NYSE:HSBC) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.33. The company had revenue of $16.90 billion for the quarter, compared to analysts’ expectations of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. Research analysts expect that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 15th. HSBC’s payout ratio is currently 39.21%.

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.