Ritholtz Wealth Management Has $2.23 Million Position in HSBC Holdings plc (NYSE:HSBC)

Ritholtz Wealth Management raised its stake in HSBC Holdings plc (NYSE:HSBC) by 13.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,895 shares of the financial services provider’s stock after purchasing an additional 6,539 shares during the period. Ritholtz Wealth Management’s holdings in HSBC were worth $2,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Milestone Investment Advisors LLC bought a new stake in shares of HSBC in the third quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of HSBC in the second quarter valued at about $27,000. Assetmark Inc. bought a new stake in shares of HSBC in the third quarter valued at about $30,000. Paradigm Asset Management Co. LLC bought a new stake in shares of HSBC in the third quarter valued at about $39,000. Finally, American National Bank bought a new stake in shares of HSBC in the third quarter valued at about $40,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HSBC has been the subject of several recent analyst reports. BNP Paribas cut shares of HSBC from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 16th. Barclays reaffirmed an “equal weight” rating on shares of HSBC in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, HSBC currently has a consensus rating of “Hold” and a consensus target price of $811.00.

HSBC Trading Up 1.0 %

Shares of HSBC stock traded up $0.38 on Thursday, hitting $39.37. The stock had a trading volume of 1,779,091 shares, compared to its average volume of 2,310,643. The firm has a market capitalization of $150.44 billion, a P/E ratio of 6.90, a PEG ratio of 0.94 and a beta of 0.63. The stock has a 50 day moving average of $38.88 and a 200 day moving average of $38.92. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.90 and a current ratio of 0.90. HSBC Holdings plc has a twelve month low of $33.99 and a twelve month high of $42.47.

HSBC (NYSE:HSBC) last released its earnings results on Wednesday, February 21st. The financial services provider reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). The firm had revenue of $13.02 billion for the quarter. HSBC had a net margin of 19.02% and a return on equity of 12.89%. Sell-side analysts expect that HSBC Holdings plc will post 7.24 earnings per share for the current fiscal year.

HSBC Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Friday, March 8th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 15.75%. This is a boost from HSBC’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, March 7th. HSBC’s dividend payout ratio is presently 108.42%.

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.