3,803 Shares in HSBC Holdings plc $HSBC Purchased by Wrapmanager Inc.

Wrapmanager Inc. bought a new stake in shares of HSBC Holdings plc (NYSE:HSBC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,803 shares of the financial services provider’s stock, valued at approximately $231,000.

A number of other hedge funds have also recently made changes to their positions in HSBC. Goldman Sachs Group Inc. lifted its position in HSBC by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock valued at $271,438,000 after acquiring an additional 53,072 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in shares of HSBC in the first quarter worth $391,000. Acadian Asset Management LLC lifted its holdings in shares of HSBC by 254.2% during the first quarter. Acadian Asset Management LLC now owns 23,718 shares of the financial services provider’s stock valued at $1,362,000 after purchasing an additional 17,021 shares in the last quarter. Atlas Capital Advisors Inc. boosted its position in shares of HSBC by 501.3% during the first quarter. Atlas Capital Advisors Inc. now owns 12,032 shares of the financial services provider’s stock valued at $691,000 after buying an additional 10,031 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new stake in HSBC in the 1st quarter worth about $2,579,000. 1.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HSBC has been the topic of several research analyst reports. BNP Paribas Exane upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Weiss Ratings restated a “hold (c+)” rating on shares of HSBC in a research report on Thursday. Citigroup restated a “buy” rating on shares of HSBC in a report on Tuesday, October 21st. BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $63.00.

HSBC Trading Down 0.8%

Shares of NYSE:HSBC opened at $72.60 on Friday. The stock has a 50 day moving average of $69.34 and a 200 day moving average of $64.07. The company has a market cap of $250.51 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. HSBC Holdings plc has a 12-month low of $45.48 and a 12-month high of $74.17. 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 issued its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.15. The business had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $16.78 billion. HSBC had a net margin of 12.85% and a return on equity of 12.78%. As a group, equities research analysts expect that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, November 7th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $2.00 annualized dividend and a yield of 2.8%. This is an increase from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is currently 41.68%.

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.