Forum Financial Management LP Has $2.69 Million Holdings in HSBC Holdings plc $HSBC

Forum Financial Management LP boosted its holdings in HSBC Holdings plc (NYSE:HSBC) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,246 shares of the financial services provider’s stock after acquiring an additional 929 shares during the period. Forum Financial Management LP’s holdings in HSBC were worth $2,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC increased its position in shares of HSBC by 101.7% in the second quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 234 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of HSBC during the second quarter valued at about $31,000. Wayfinding Financial LLC acquired a new stake in shares of HSBC during the first quarter valued at about $30,000. Raleigh Capital Management Inc. acquired a new stake in shares of HSBC during the second quarter valued at about $33,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of HSBC during the second quarter valued at about $39,000. Institutional investors own 1.48% of the company’s stock.

HSBC Trading Up 0.6%

Shares of HSBC stock opened at $66.44 on Thursday. The stock has a fifty day simple moving average of $67.39 and a 200 day simple moving average of $61.76. HSBC Holdings plc has a 12-month low of $43.97 and a 12-month high of $72.21. The company has a market capitalization of $229.25 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 1.74 and a beta of 0.62. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.33. HSBC had a return on equity of 12.73% and a net margin of 13.48%.The business had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. On average, sell-side analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 15th were given a $0.495 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.98 annualized dividend and a yield of 3.0%. HSBC’s payout ratio is currently 39.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Zacks Research lowered HSBC from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. BNP Paribas Exane raised HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a report on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of HSBC in a report on Wednesday, October 8th. Finally, Citigroup reiterated a “buy” rating on shares of HSBC in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $63.00.

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.