Optas LLC Has $296,000 Stock Position in HSBC Holdings plc (NYSE:HSBC)

Optas LLC increased its position in shares of HSBC Holdings plc (NYSE:HSBC) by 10.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,519 shares of the financial services provider’s stock after acquiring an additional 699 shares during the quarter. Optas LLC’s holdings in HSBC were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Founders Financial Securities LLC acquired a new stake in shares of HSBC during the first quarter worth approximately $684,000. 180 Wealth Advisors LLC acquired a new stake in shares of HSBC during the 1st quarter valued at $224,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of HSBC by 4.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,399 shares of the financial services provider’s stock worth $803,000 after acquiring an additional 873 shares during the last quarter. Ignite Planners LLC acquired a new stake in HSBC during the first quarter valued at $714,000. Finally, Ballentine Partners LLC grew its stake in HSBC by 43.2% in the first quarter. Ballentine Partners LLC now owns 13,609 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 4,106 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays reiterated an “equal weight” rating on shares of HSBC in a report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $761.75.

HSBC Stock Down 0.5 %

NYSE HSBC traded down $0.23 during trading on Friday, hitting $43.50. 1,151,921 shares of the company traded hands, compared to its average volume of 1,177,702. The business has a fifty day simple moving average of $43.86 and a 200 day simple moving average of $40.98. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. HSBC Holdings plc has a 12 month low of $35.30 and a 12 month high of $45.46. The company has a market capitalization of $163.16 billion, a P/E ratio of 7.50, a PEG ratio of 1.04 and a beta of 0.58.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.70 EPS for the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.80%. The company had revenue of $20.75 billion for the quarter. As a group, sell-side analysts predict that HSBC Holdings plc will post 6.35 EPS for the current year.

HSBC Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, May 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Thursday, May 9th. HSBC’s dividend payout ratio (DPR) is 34.14%.

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.