Bank of New York Mellon Corp Has $17.51 Million Position in HSBC Holdings plc $HSBC

Bank of New York Mellon Corp lifted its position in shares of HSBC Holdings plc (NYSE:HSBC) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,062 shares of the financial services provider’s stock after purchasing an additional 10,633 shares during the period. Bank of New York Mellon Corp’s holdings in HSBC were worth $17,511,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of HSBC. Focus Partners Advisor Solutions LLC increased its position in HSBC by 4.4% during the second quarter. Focus Partners Advisor Solutions LLC now owns 4,022 shares of the financial services provider’s stock worth $244,000 after buying an additional 168 shares during the last quarter. Westover Capital Advisors LLC boosted its stake in shares of HSBC by 2.5% during the 1st quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 200 shares during the period. Contravisory Investment Management Inc. increased its holdings in shares of HSBC by 4.4% during the 2nd quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 210 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in HSBC by 1.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 17,094 shares of the financial services provider’s stock valued at $988,000 after acquiring an additional 223 shares during the period. Finally, TD Private Client Wealth LLC lifted its holdings in HSBC by 101.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 234 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HSBC has been the topic of several research reports. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a report on Friday, October 10th. BNP Paribas upgraded shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of HSBC in a report on Thursday. Citigroup restated a “buy” rating on shares of HSBC in a report on Tuesday, October 21st. Finally, BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, HSBC currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

HSBC Stock Performance

NYSE HSBC opened at $72.60 on Monday. HSBC Holdings plc has a 12-month low of $45.48 and a 12-month high of $74.17. The firm has a 50-day moving average price of $69.34 and a two-hundred day moving average price of $64.17. The company has a market capitalization of $250.51 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.30 and a beta of 0.64. The company has a quick ratio of 0.93, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.15. The company had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $16.78 billion. HSBC had a net margin of 12.85% and a return on equity of 12.78%. Analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 7th will be issued a dividend of $0.50 per share. This is a boost from HSBC’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, November 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.8%. HSBC’s payout ratio is currently 41.68%.

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.