BKM Wealth Management LLC Buys 7,159 Shares of HSBC Holdings plc (NYSE:HSBC)

BKM Wealth Management LLC raised its position in HSBC Holdings plc (NYSE:HSBC) by 106.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,873 shares of the financial services provider’s stock after purchasing an additional 7,159 shares during the quarter. BKM Wealth Management LLC’s holdings in HSBC were worth $627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Family Firm Inc. acquired a new stake in shares of HSBC in the second quarter valued at approximately $36,000. RFP Financial Group LLC increased its stake in HSBC by 126.1% in the 1st quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after buying an additional 575 shares during the last quarter. Ridgewood Investments LLC bought a new stake in HSBC during the 2nd quarter worth about $47,000. Fifth Third Bancorp increased its position in shares of HSBC by 128.4% in the second quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 765 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in HSBC by 40.9% during the third quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 397 shares in the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Stock Down 0.3 %

Shares of HSBC stock opened at $44.37 on Friday. HSBC Holdings plc has a 52-week low of $35.30 and a 52-week high of $46.07. The stock has a market cap of $97.27 billion, a price-to-earnings ratio of 7.65 and a beta of 0.56. The firm’s 50-day moving average is $44.19 and its 200-day moving average is $43.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 0.89.

HSBC (NYSE:HSBC) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 EPS for the quarter. HSBC had a return on equity of 10.60% and a net margin of 15.61%. The company had revenue of $16.54 billion during the quarter. Sell-side analysts predict that HSBC Holdings plc will post 6.22 EPS for the current year.

HSBC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Friday, August 16th. HSBC’s payout ratio is 34.14%.

Analysts Set New Price Targets

Separately, Dbs Bank raised HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st.

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.