First Trust Direct Indexing L.P. Has $1.86 Million Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

First Trust Direct Indexing L.P. lowered its stake in HSBC Holdings plc (NYSE:HSBC) by 14.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,190 shares of the financial services provider’s stock after selling 7,836 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in HSBC were worth $1,857,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new stake in shares of HSBC in the fourth quarter worth about $27,000. Rise Advisors LLC acquired a new position in shares of HSBC in the first quarter valued at approximately $34,000. Addison Advisors LLC increased its position in shares of 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 acquiring an additional 383 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in HSBC by 38.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 940 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 263 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in HSBC by 198.4% in the 4th quarter. Assetmark Inc. now owns 2,295 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 1,526 shares during the period. 1.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays reaffirmed an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, HSBC presently has an average rating of “Hold” and a consensus target price of $761.75.

HSBC Stock Down 0.4 %

NYSE:HSBC opened at $43.90 on Friday. HSBC Holdings plc has a twelve month low of $35.30 and a twelve month high of $45.46. The firm has a market capitalization of $164.66 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 1.05 and a beta of 0.58. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $44.03 and its two-hundred day moving average price is $41.08.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.80%. The firm had revenue of $20.75 billion for the quarter. Equities research analysts expect that HSBC Holdings plc will post 6.35 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, May 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Thursday, May 9th. HSBC’s dividend payout ratio is currently 34.14%.

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.