HSBC Holdings plc (NYSE:HSBC) Stake Increased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 66.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,601 shares of the financial services provider’s stock after acquiring an additional 8,249 shares during the quarter. NewEdge Advisors LLC’s holdings in HSBC were worth $1,019,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in HSBC during the third quarter worth $122,000. JPMorgan Chase & Co. lifted its position in shares of HSBC by 103.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 56,860 shares of the financial services provider’s stock worth $2,570,000 after buying an additional 28,939 shares during the last quarter. Versant Capital Management Inc grew its position in shares of HSBC by 116.2% during the 4th quarter. Versant Capital Management Inc now owns 1,498 shares of the financial services provider’s stock valued at $74,000 after buying an additional 805 shares during the last quarter. GAMMA Investing LLC boosted its stake in HSBC by 28.6% in the fourth quarter. GAMMA Investing LLC now owns 7,810 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 1,735 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of HSBC by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,909 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 235 shares during the period. 1.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on HSBC. UBS Group reiterated a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. StockNews.com upgraded HSBC from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft lowered HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a research report on Monday, February 3rd. Finally, Barclays upgraded shares of HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

HSBC Price Performance

NYSE HSBC opened at $55.71 on Friday. 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 stock has a market capitalization of $198.38 billion, a P/E ratio of 8.99, a P/E/G ratio of 1.05 and a beta of 0.40. The business’s fifty day moving average is $55.39 and its two-hundred day moving average is $50.75. HSBC Holdings plc has a 1 year low of $39.42 and a 1 year high of $61.88.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.04. HSBC had a net margin of 16.17% and a return on equity of 12.20%. The company had revenue of $11.56 billion during the quarter, compared to analyst estimates of $13.79 billion. On average, research analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 7th will be given a $1.80 dividend. The ex-dividend date is Friday, March 7th. This represents a $7.20 annualized dividend and a dividend yield of 12.92%. HSBC’s dividend payout ratio (DPR) is presently 115.81%.

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.