Norden Group LLC Takes Position in HSBC Holdings plc (NYSE:HSBC)

Norden Group LLC purchased a new stake in HSBC Holdings plc (NYSE:HSBC) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,368 shares of the financial services provider’s stock, valued at approximately $211,000.

Other hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC grew its stake in shares of HSBC by 74.9% in the first quarter. Caprock Group LLC now owns 19,289 shares of the financial services provider’s stock valued at $789,000 after buying an additional 8,260 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of HSBC by 317.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,343 shares of the financial services provider’s stock valued at $407,000 after purchasing an additional 7,866 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of HSBC by 8.8% during the first quarter. Commonwealth Equity Services LLC now owns 49,736 shares of the financial services provider’s stock worth $1,958,000 after purchasing an additional 4,021 shares in the last quarter. Caas Capital Management LP boosted its stake in shares of HSBC by 81.9% in the first quarter. Caas Capital Management LP now owns 18,193 shares of the financial services provider’s stock valued at $716,000 after purchasing an additional 8,193 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC grew its holdings in HSBC by 5.2% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 22,185 shares of the financial services provider’s stock valued at $873,000 after purchasing an additional 1,096 shares in the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barclays reissued an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $789.00.

HSBC Trading Up 1.0 %

HSBC opened at $43.78 on Monday. The stock has a market capitalization of $164.21 billion, a PE ratio of 7.55, a P/E/G ratio of 1.04 and a beta of 0.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.96 and a quick ratio of 0.96. HSBC Holdings plc has a 12-month low of $35.30 and a 12-month high of $45.46. The firm’s fifty day moving average price is $44.03 and its 200 day moving average price is $41.25.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.70 EPS for the quarter. The business had revenue of $20.75 billion for the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.80%. As a group, research analysts expect that HSBC Holdings plc will post 6.4 EPS for the current fiscal year.

HSBC Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 10th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.57%. HSBC’s dividend payout ratio (DPR) is 34.14%.

HSBC 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.