Cookson Peirce & Co. Inc. lessened its position in shares of HSBC Holdings plc (NYSE:HSBC – Free Report) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 613,956 shares of the financial services provider’s stock after selling 10,013 shares during the period. HSBC makes up about 2.0% of Cookson Peirce & Co. Inc.’s portfolio, making the stock its 9th largest holding. Cookson Peirce & Co. Inc.’s holdings in HSBC were worth $48,300,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in HSBC. Measured Wealth Private Client Group LLC acquired a new stake in shares of HSBC during the 3rd quarter valued at $26,000. Binnacle Investments Inc raised its stake in shares of HSBC by 80.5% during the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 198 shares during the last quarter. JPL Wealth Management LLC acquired a new position in shares of HSBC during the third quarter worth $41,000. Cornerstone Planning Group LLC grew its stake in shares of HSBC by 30.7% in the fourth quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 117 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in HSBC in the fourth quarter valued at $43,000. Institutional investors own 1.48% of the company’s stock.
HSBC Trading Down 1.9%
HSBC opened at $90.85 on Friday. HSBC Holdings plc has a twelve month low of $58.14 and a twelve month high of $95.61. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $89.60 and a 200-day moving average of $83.97. The stock has a market cap of $312.22 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.81 and a beta of 0.56.
HSBC Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 15th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, May 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. HSBC’s dividend payout ratio is 32.46%.
Analyst Ratings Changes
A number of analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on HSBC in a report on Thursday, March 26th. They issued a “buy” rating for the company. BNP Paribas Exane downgraded HSBC from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 14th. Zacks Research downgraded HSBC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Royal Bank Of Canada restated a “sector perform” rating on shares of HSBC in a report on Thursday, May 14th. Finally, Weiss Ratings downgraded HSBC from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, HSBC has a consensus rating of “Hold”.
View Our Latest Analysis on HSBC
More HSBC News
Here are the key news stories impacting HSBC this week:
- Negative Sentiment: Reports that Hong Kong banks may face stricter scrutiny on mainland Chinese clients sparked concern over reduced account growth, cross-border deposits, and fee revenue for HSBC. HSBC, AIA Slump After Report of Hong Kong Bank Account Curbs
- Negative Sentiment: HSBC was also mentioned in connection with a whistleblower allegation against HSBC Bank USA involving possible Sarbanes-Oxley violations, adding another legal and compliance overhang. Whistleblower Accuses HSBC Bank USA of Sarbanes-Oxley Violations
- Neutral Sentiment: Citi said the recent decline in HSBC and Standard Chartered may be excessive, suggesting the market reaction could be overdone if the account-opening concerns prove limited. HSBC and StanChart sell-off overdone, says Citi
- Neutral Sentiment: HSBC also appeared in routine capital-markets notices from its Continental Europe unit, which are not likely to materially affect the stock. HSBC Continental Europe: Post Stabilisation Notice
- Neutral Sentiment: HSBC Research also published a macro view on India’s potential need for dollar inflows to support the rupee, which is informative but not a direct earnings driver for the bank’s shares. India may need up to $70 bn in inflows as policymakers weigh rupee-support package: HSBC
Insider Buying and Selling at HSBC
In other HSBC news, insider Daniel Scott Palomaki sold 23,123 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total value of $418,757.53. Following the completion of the sale, the insider directly owned 4,973 shares in the company, valued at approximately $90,061.03. This trade represents a 82.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.01% of the stock is currently owned by company insiders.
HSBC Profile
HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.
HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.
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