Arkadios Wealth Advisors Sells 9,833 Shares of HSBC Holdings plc $HSBC

Arkadios Wealth Advisors cut its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 21.9% in the 2nd quarter, Holdings Channel reports. The firm owned 35,070 shares of the financial services provider’s stock after selling 9,833 shares during the period. Arkadios Wealth Advisors’ holdings in HSBC were worth $2,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC increased its stake in shares of HSBC by 101.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 234 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of HSBC in the 2nd quarter valued at $31,000. Wayfinding Financial LLC bought a new position in shares of HSBC in the 1st quarter valued at $30,000. Raleigh Capital Management Inc. bought a new position in shares of HSBC in the 2nd quarter valued at $33,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of HSBC in the 2nd quarter valued at $39,000. Institutional investors own 1.48% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HSBC. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a research note on Friday, October 10th. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of HSBC in a research note on Wednesday, October 8th. Finally, Citigroup reiterated a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.00.

HSBC Stock Down 0.2%

Shares of HSBC opened at $70.33 on Friday. The company has a market capitalization of $242.67 billion, a PE ratio of 14.81, a PEG ratio of 1.30 and a beta of 0.62. HSBC Holdings plc has a 12 month low of $44.40 and a 12 month high of $72.21. The stock’s 50-day moving average price is $67.86 and its two-hundred day moving average price is $62.69. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49.

HSBC (NYSE:HSBC) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 EPS for the quarter, topping the consensus estimate of $1.65 by $0.15. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. On average, analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 7th. This is a boost from HSBC’s previous quarterly dividend of $0.50. HSBC’s dividend payout ratio (DPR) is presently 39.21%.

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.