Symphony Financial Services Inc. Takes Position in HSBC Holdings plc $HSBC

Symphony Financial Services Inc. acquired a new position in HSBC Holdings plc (NYSE:HSBC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,346 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Focus Partners Advisor Solutions LLC boosted its holdings in shares of HSBC by 4.4% in the second quarter. Focus Partners Advisor Solutions LLC now owns 4,022 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 168 shares in the last quarter. Moors & Cabot Inc. boosted its stake in HSBC by 2.7% during the 2nd quarter. Moors & Cabot Inc. now owns 7,152 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 189 shares in the last quarter. Westover Capital Advisors LLC increased its position in shares of HSBC by 2.5% during the 1st quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 200 shares during the period. Contravisory Investment Management Inc. raised its stake in shares of HSBC by 4.4% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider’s stock worth $302,000 after buying an additional 210 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of HSBC by 1.3% in the first quarter. Smartleaf Asset Management LLC now owns 17,094 shares of the financial services provider’s stock valued at $988,000 after buying an additional 223 shares during the period. 1.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on HSBC shares. BNP Paribas Exane upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. Zacks Research raised shares of HSBC from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Jefferies Financial Group restated a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Finally, BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, HSBC currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

HSBC Price Performance

NYSE HSBC opened at $72.52 on Wednesday. The company has a 50 day simple moving average of $68.86 and a 200-day simple moving average of $63.82. HSBC Holdings plc has a 52-week low of $44.40 and a 52-week high of $72.82. The firm has a market capitalization of $250.25 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.93.

HSBC (NYSE:HSBC) last released its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. HSBC had a net margin of 12.85% and a return on equity of 12.78%. The company had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $16.78 billion. Equities research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Increases Dividend

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

About HSBC

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.