CIBC Asset Management Inc Has $2.61 Million Position in HSBC Holdings plc $HSBC

CIBC Asset Management Inc raised its holdings in HSBC Holdings plc (NYSE:HSBCFree Report) by 47.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,756 shares of the financial services provider’s stock after acquiring an additional 11,776 shares during the quarter. CIBC Asset Management Inc’s holdings in HSBC were worth $2,609,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. acquired a new stake in shares of HSBC in the 3rd quarter valued at $25,000. NewSquare Capital LLC raised its holdings in HSBC by 152.6% during the second quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock valued at $26,000 after buying an additional 261 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of HSBC by 101.7% in the second quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after buying an additional 234 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of HSBC during the 3rd quarter worth about $32,000. Finally, Raleigh Capital Management Inc. acquired a new position in shares of HSBC during the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Up 4.0%

HSBC stock opened at $88.50 on Wednesday. The business’s 50-day simple moving average is $77.16 and its 200 day simple moving average is $70.60. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market cap of $304.02 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 0.99 and a beta of 0.52. HSBC Holdings plc has a twelve month low of $45.66 and a twelve month high of $88.54.

HSBC (NYSE:HSBCGet Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.15. The company had revenue of $17.79 billion for the quarter, compared to analyst estimates of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. On average, research analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current year.

Key HSBC News

Here are the key news stories impacting HSBC this week:

Wall Street Analyst Weigh In

HSBC has been the subject of a number of recent analyst reports. Morgan Stanley began coverage on HSBC in a research report on Wednesday, January 14th. They set an “equal weight” rating for the company. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a research note on Friday, October 10th. Keefe, Bruyette & Woods upgraded shares of HSBC from a “hold” rating to a “moderate buy” rating in a report on Wednesday, December 17th. Citigroup restated a “buy” rating on shares of HSBC in a report on Friday, January 9th. Finally, Erste Group Bank upgraded HSBC from a “hold” rating to a “buy” rating in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

View Our Latest Stock Report on HSBC

HSBC Company Profile

(Free Report)

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

Further Reading

Institutional Ownership by Quarter for HSBC (NYSE:HSBC)

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