Choreo LLC Grows Stake in HSBC Holdings plc $HSBC

Choreo LLC grew its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,499 shares of the financial services provider’s stock after buying an additional 1,060 shares during the period. Choreo LLC’s holdings in HSBC were worth $1,429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. NewSquare Capital LLC increased its position in HSBC by 152.6% during the 2nd quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 261 shares during the period. TD Private Client Wealth LLC lifted its position in shares of HSBC by 101.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 234 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of HSBC during the second quarter valued at about $31,000. Raleigh Capital Management Inc. bought a new position in HSBC in the second quarter worth about $33,000. Finally, Ameritas Advisory Services LLC purchased a new stake in HSBC in the second quarter worth about $39,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of HSBC in a report on Tuesday. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a report on Friday, October 10th. Zacks Research raised HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research report on Tuesday, October 21st. Finally, Erste Group Bank raised shares of HSBC from a “hold” rating to a “buy” rating in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $63.00.

HSBC Price Performance

Shares of NYSE:HSBC opened at $71.22 on Friday. The business has a fifty day moving average price of $69.57 and a 200-day moving average price of $65.02. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.93. The company has a market capitalization of $244.64 billion, a PE ratio of 14.99, a PEG ratio of 1.30 and a beta of 0.64. HSBC Holdings plc has a 1-year low of $45.66 and a 1-year high of $74.17.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $1.80 EPS for the quarter, beating the consensus estimate of $1.65 by $0.15. The company had revenue of $17.90 billion for 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%. As a group, equities analysts expect that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, November 7th will be given a $0.50 dividend. 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 annualized dividend and a 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.