Raymond James Financial Inc. purchased a new stake in HSBC Holdings plc (NYSE:HSBC – Free Report) during the 4th quarter, HoldingsChannel reports. The firm purchased 360,192 shares of the financial services provider’s stock, valued at approximately $17,815,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Berbice Capital Management LLC purchased a new position in shares of HSBC during the fourth quarter valued at about $25,000. Venturi Wealth Management LLC grew its holdings in shares of HSBC by 58.2% during the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 210 shares during the period. Whipplewood Advisors LLC bought a new position in shares of HSBC in the 4th quarter worth approximately $30,000. Brooklyn Investment Group purchased a new position in shares of HSBC in the 4th quarter valued at approximately $49,000. Finally, Sierra Ocean LLC bought a new stake in shares of HSBC during the fourth quarter valued at approximately $73,000. 1.48% of the stock is owned by hedge funds and other institutional investors.
HSBC Trading Up 1.0 %
Shares of NYSE HSBC opened at $52.52 on Monday. The firm’s 50 day moving average price is $55.44 and its 200-day moving average price is $50.58. HSBC Holdings plc has a 52-week low of $39.42 and a 52-week high of $61.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88. The company has a market cap of $187.04 billion, a PE ratio of 8.47, a P/E/G ratio of 1.05 and a beta of 0.40.
HSBC (NYSE:HSBC – Get Free Report) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.41 by $0.04. The business had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $13.79 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. On average, equities research analysts expect that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.
HSBC Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 7th will be issued a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $7.20 annualized dividend and a dividend yield of 13.71%. HSBC’s payout ratio is 115.81%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. StockNews.com upgraded HSBC from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Royal Bank of Canada reissued a “sector perform” rating on shares of HSBC in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft cut shares of HSBC from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. UBS Group reiterated a “neutral” rating on shares of HSBC in a report on Thursday, March 6th. Finally, Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.
Get Our Latest Research Report on HSBC
HSBC Company Profile
(Free Report)
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.
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