HSBC Holdings plc (NYSE:HSBC) Position Boosted by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its position in HSBC Holdings plc (NYSE:HSBC) by 2.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,026 shares of the financial services provider’s stock after acquiring an additional 1,136 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in HSBC were worth $2,231,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Milestone Investment Advisors LLC acquired a new stake in shares of HSBC in the 3rd quarter valued at $26,000. Assetmark Inc. bought a new position in shares of HSBC in the 3rd quarter valued at approximately $30,000. Addison Advisors LLC boosted its position in HSBC by 74.8% during the fourth quarter. Addison Advisors LLC now owns 895 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 383 shares during the period. Paradigm Asset Management Co. LLC bought a new position in shares of HSBC in the third quarter valued at approximately $39,000. Finally, Fifth Third Bancorp lifted its stake in shares of HSBC by 34.0% in the third quarter. Fifth Third Bancorp now owns 1,321 shares of the financial services provider’s stock worth $52,000 after buying an additional 335 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Trading Up 1.8 %

NYSE HSBC traded up $0.79 during mid-day trading on Thursday, reaching $44.44. 434,867 shares of the stock were exchanged, compared to its average volume of 2,217,059. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a 50 day simple moving average of $39.74 and a 200-day simple moving average of $39.19. HSBC Holdings plc has a one year low of $35.30 and a one year high of $44.70. The stock has a market cap of $168.06 billion, a P/E ratio of 7.53, a P/E/G ratio of 1.03 and a beta of 0.58.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.33). HSBC had a net margin of 16.13% and a return on equity of 10.90%. The business had revenue of $13.02 billion during the quarter. On average, analysts anticipate that HSBC Holdings plc will post 7.24 EPS for the current year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.00 annualized dividend and a yield of 4.50%. HSBC’s payout ratio is 106.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HSBC shares. Barclays reaffirmed an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. BNP Paribas lowered shares of HSBC from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $811.00.

About HSBC

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.