Gallacher Capital Management LLC Has $319,000 Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Gallacher Capital Management LLC reduced its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 9.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,864 shares of the financial services provider’s stock after selling 802 shares during the period. Gallacher Capital Management LLC’s holdings in HSBC were worth $319,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of HSBC by 38.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 940 shares of the financial services provider’s stock worth $38,000 after buying an additional 263 shares during the last quarter. Savant Capital LLC increased its position in shares of HSBC by 5.3% during the 4th quarter. Savant Capital LLC now owns 5,574 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 279 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of HSBC by 34.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,321 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 335 shares in the last quarter. Addison Advisors LLC boosted its holdings in shares of HSBC by 74.8% in the 4th quarter. Addison Advisors LLC now owns 895 shares of the financial services provider’s stock valued at $36,000 after buying an additional 383 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its stake in shares of HSBC by 1.4% in the third quarter. Lake Street Advisors Group LLC now owns 28,179 shares of the financial services provider’s stock valued at $1,112,000 after buying an additional 393 shares in the last quarter. Institutional investors own 1.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on HSBC. Barclays reiterated an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th. BNP Paribas downgraded HSBC from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $761.75.

HSBC Stock Performance

Shares of NYSE:HSBC traded up $0.33 during trading on Monday, reaching $44.78. 1,269,180 shares of the stock were exchanged, compared to its average volume of 2,215,464. HSBC Holdings plc has a 12 month low of $35.30 and a 12 month high of $44.82. The stock has a 50-day moving average price of $40.00 and a 200-day moving average price of $39.25. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The firm has a market cap of $169.34 billion, a PE ratio of 7.70, a PEG ratio of 1.00 and a beta of 0.58.

HSBC (NYSE:HSBC) last issued its quarterly earnings data on Wednesday, February 21st. The financial services provider reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). HSBC had a net margin of 16.13% and a return on equity of 10.80%. The firm had revenue of $13.02 billion during the quarter. Research analysts expect that HSBC Holdings plc will post 6.77 EPS for the current fiscal year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Thursday, May 9th. HSBC’s dividend payout ratio is currently 106.55%.

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.