Belpointe Asset Management LLC Makes New $391,000 Investment in HSBC Holdings plc $HSBC

Belpointe Asset Management LLC purchased a new position in HSBC Holdings plc (NYSE:HSBC) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,800 shares of the financial services provider’s stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HSBC. Contrarian Capital Management L.L.C. lifted its position in shares of HSBC by 425.4% during the 1st quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider’s stock worth $72,687,000 after purchasing an additional 1,024,780 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of HSBC by 7,061.5% during the 1st quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider’s stock worth $321,210,000 after purchasing an additional 551,501 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of HSBC by 729.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,953 shares of the financial services provider’s stock worth $22,280,000 after purchasing an additional 341,187 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in shares of HSBC during the 1st quarter worth about $17,430,000. Finally, Gunderson Capital Management Inc. acquired a new position in shares of HSBC during the 1st quarter worth about $10,287,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

Wall Street Analysts Forecast Growth

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

HSBC Stock Down 0.8%

NYSE HSBC opened at $68.64 on Monday. The firm has a market cap of $238.22 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.53 and a beta of 0.65. HSBC Holdings plc has a one year low of $43.38 and a one year high of $69.32. The stock’s 50 day simple moving average is $64.13 and its 200 day simple moving average is $59.60. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.93.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.33. The business had revenue of $16.90 billion for the quarter, compared to analyst estimates of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. As a group, sell-side analysts forecast that HSBC Holdings plc will post 6.66 earnings per share 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 given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, August 15th. HSBC’s dividend payout ratio (DPR) is presently 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.