Yousif Capital Management LLC Sells 8,285 Shares of HSBC Holdings plc $HSBC

Yousif Capital Management LLC lowered its position in shares of HSBC Holdings plc (NYSE:HSBC) by 18.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,746 shares of the financial services provider’s stock after selling 8,285 shares during the quarter. Yousif Capital Management LLC’s holdings in HSBC were worth $2,679,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HSBC. NewSquare Capital LLC boosted its position in shares of HSBC by 152.6% during the 2nd quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 261 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of HSBC by 101.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after buying an additional 234 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of HSBC during the 2nd quarter worth approximately $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of HSBC during the 3rd quarter valued at $32,000. Finally, Raleigh Capital Management Inc. bought a new position in HSBC during the second quarter worth $33,000. 1.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Bank of America raised HSBC from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of HSBC in a research note on Monday, December 22nd. Erste Group Bank raised HSBC from a “hold” rating to a “buy” rating in a research report on Thursday, November 20th. 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, six have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.00.

HSBC Stock Up 0.4%

Shares of NYSE:HSBC opened at $79.92 on Friday. The business’s 50 day moving average is $71.94 and its 200 day moving average is $67.22. HSBC Holdings plc has a 12-month low of $45.66 and a 12-month high of $79.97. The stock has a market cap of $274.51 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 1.01 and a beta of 0.52. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

HSBC (NYSE:HSBC) last issued its quarterly earnings data 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. HSBC had a return on equity of 12.78% and a net margin of 12.85%.The business had revenue of $17.79 billion for the quarter, compared to analysts’ expectations of $16.78 billion. On average, sell-side analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Friday, November 7th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is currently 41.68%.

HSBC Company 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.