First Trust Direct Indexing L.P. Grows Position in HSBC Holdings plc (NYSE:HSBC)

First Trust Direct Indexing L.P. raised its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 55,026 shares of the financial services provider’s stock after purchasing an additional 1,136 shares during the period. First Trust Direct Indexing L.P.’s holdings in HSBC were worth $2,231,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Morgan Stanley grew its position in HSBC by 0.9% during the 3rd quarter. Morgan Stanley now owns 8,374,688 shares of the financial services provider’s stock worth $330,465,000 after purchasing an additional 73,129 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in HSBC by 167.4% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 842,864 shares of the financial services provider’s stock worth $33,259,000 after acquiring an additional 527,677 shares in the last quarter. American Century Companies Inc. lifted its holdings in HSBC by 39.4% during the third quarter. American Century Companies Inc. now owns 698,250 shares of the financial services provider’s stock valued at $27,553,000 after purchasing an additional 197,283 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of HSBC by 3.0% in the third quarter. Natixis Advisors L.P. now owns 622,654 shares of the financial services provider’s stock valued at $24,570,000 after purchasing an additional 18,167 shares during the period. Finally, Cookson Peirce & Co. Inc. increased its stake in shares of HSBC by 0.5% during the third quarter. Cookson Peirce & Co. Inc. now owns 618,851 shares of the financial services provider’s stock worth $24,420,000 after purchasing an additional 3,238 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HSBC shares. BNP Paribas lowered shares of HSBC from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 16th. Barclays restated an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $811.00.

HSBC Price Performance

Shares of HSBC stock traded up $0.79 on Thursday, hitting $44.44. 434,867 shares of the company were exchanged, compared to its average volume of 2,217,059. HSBC Holdings plc has a 1-year low of $35.30 and a 1-year high of $44.70. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $168.06 billion, a price-to-earnings ratio of 7.53, a price-to-earnings-growth ratio of 1.03 and a beta of 0.58. The company has a 50-day moving average price of $39.74 and a 200 day moving average price of $39.19.

HSBC (NYSE:HSBC) last issued its 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 company had revenue of $13.02 billion during the quarter. As a group, sell-side analysts predict that HSBC Holdings plc will post 7.24 earnings per share for the current fiscal year.

HSBC Cuts Dividend

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

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.