MGO One Seven LLC Purchases 1,604 Shares of HSBC Holdings plc $HSBC

MGO One Seven LLC raised its position in HSBC Holdings plc (NYSE:HSBC) by 5.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,668 shares of the financial services provider’s stock after acquiring an additional 1,604 shares during the quarter. MGO One Seven LLC’s holdings in HSBC were worth $1,743,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of HSBC. TD Private Client Wealth LLC lifted its holdings in HSBC by 101.7% in the second quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 234 shares during the period. Wayfinding Financial LLC bought a new position in shares of HSBC in the first quarter worth about $30,000. Opal Wealth Advisors LLC bought a new position in shares of HSBC in the second quarter worth about $31,000. Raleigh Capital Management Inc. bought a new position in shares of HSBC in the second quarter worth about $33,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of HSBC in the second quarter worth about $39,000. Institutional investors own 1.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. Jefferies Financial Group reaffirmed a “hold” rating on shares of HSBC in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HSBC in a research note on Wednesday, October 8th. Zacks Research downgraded HSBC from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Citigroup reissued a “buy” rating on shares of HSBC in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, HSBC has an average rating of “Hold” and an average price target of $63.00.

HSBC Stock Down 0.7%

Shares of HSBC opened at $66.39 on Thursday. The business’s 50 day moving average is $67.20 and its 200 day moving average is $61.39. The company has a market capitalization of $229.08 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.62. HSBC Holdings plc has a 12-month low of $43.97 and a 12-month high of $72.21. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

HSBC (NYSE:HSBC) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.33. The company had revenue of $16.90 billion for the quarter, compared to the consensus estimate of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. Research analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 15th were issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, August 15th. HSBC’s dividend payout ratio (DPR) is currently 39.21%.

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.