Vise Technologies Inc. increased its position in HSBC Holdings plc (NYSE:HSBC – Free Report) by 51.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,865 shares of the financial services provider’s stock after purchasing an additional 19,928 shares during the period. Vise Technologies Inc.’s holdings in HSBC were worth $4,631,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its stake in shares of HSBC by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 17,800,748 shares of the financial services provider’s stock worth $1,400,385,000 after acquiring an additional 402,288 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of HSBC by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 10,575,644 shares of the financial services provider’s stock worth $750,659,000 after acquiring an additional 185,073 shares during the last quarter. Northern Trust Corp grew its stake in shares of HSBC by 4.7% in the third quarter. Northern Trust Corp now owns 3,045,134 shares of the financial services provider’s stock worth $216,144,000 after acquiring an additional 136,342 shares during the last quarter. American Century Companies Inc. grew its stake in shares of HSBC by 14.7% in the third quarter. American Century Companies Inc. now owns 1,311,820 shares of the financial services provider’s stock worth $93,113,000 after acquiring an additional 168,438 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of HSBC by 1,272.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 909,464 shares of the financial services provider’s stock worth $71,548,000 after acquiring an additional 843,186 shares during the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
HSBC has been the topic of a number of recent research reports. Zacks Research cut HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Royal Bank Of Canada reissued a “sector perform” rating on shares of HSBC in a research note on Thursday, May 14th. The Goldman Sachs Group initiated coverage on HSBC in a research note on Thursday, March 26th. They issued a “buy” rating on the stock. BNP Paribas Exane cut HSBC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings cut HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.
HSBC Trading Down 1.9%
Shares of NYSE:HSBC opened at $90.85 on Friday. The company has a market cap of $312.22 billion, a P/E ratio of 14.89, a PEG ratio of 0.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.92 and a quick ratio of 0.92. HSBC Holdings plc has a 1 year low of $58.14 and a 1 year high of $95.61. The stock’s fifty day moving average price is $89.60 and its 200-day moving average price is $83.97.
HSBC (NYSE:HSBC – Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. The firm had revenue of $19.13 billion for the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%. Sell-side analysts expect that HSBC Holdings plc will post 8.55 earnings per share for the current year.
HSBC Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, May 15th. HSBC’s dividend payout ratio is presently 32.46%.
Insider Activity
In other news, insider Daniel Scott Palomaki sold 23,123 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.11, for a total transaction of $418,757.53. Following the transaction, the insider directly owned 4,973 shares of the company’s stock, valued at $90,061.03. This represents a 82.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.01% of the stock is currently owned by insiders.
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
About HSBC
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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