Bank of Montreal Can Grows Stock Holdings in HSBC Holdings plc $HSBC

Bank of Montreal Can increased its position in HSBC Holdings plc (NYSE:HSBC) by 175.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 209,666 shares of the financial services provider’s stock after buying an additional 133,591 shares during the period. Bank of Montreal Can’s holdings in HSBC were worth $12,746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Focus Partners Advisor Solutions LLC boosted its stake in shares of HSBC by 4.4% in the second quarter. Focus Partners Advisor Solutions LLC now owns 4,022 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 168 shares during the period. Westover Capital Advisors LLC lifted its holdings in HSBC by 2.5% in the 1st quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 200 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in HSBC by 4.4% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 210 shares during the period. Smartleaf Asset Management LLC grew its holdings in HSBC by 1.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 17,094 shares of the financial services provider’s stock valued at $988,000 after buying an additional 223 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its position in shares of HSBC by 101.7% during the second quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after buying an additional 234 shares during the last quarter. 1.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HSBC has been the subject of a number of research reports. Jefferies Financial Group restated a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Citigroup reissued a “buy” rating on shares of HSBC in a report on Tuesday, October 21st. BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of HSBC in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded HSBC from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, HSBC currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

HSBC Trading Down 1.1%

Shares of HSBC stock opened at $71.24 on Friday. The company has a market cap of $245.80 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. HSBC Holdings plc has a 1 year low of $44.40 and a 1 year high of $72.34. The stock’s 50 day simple moving average is $68.54 and its two-hundred day simple moving average is $63.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.93.

HSBC (NYSE:HSBC) last released its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.15. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. Research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 7th will be issued a $0.50 dividend. This is a boost from HSBC’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, November 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.8%. HSBC’s dividend payout ratio (DPR) is 41.68%.

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.