HighTower Advisors LLC Acquires 24,000 Shares of HSBC Holdings plc $HSBC

HighTower Advisors LLC raised its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 9.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 265,644 shares of the financial services provider’s stock after buying an additional 24,000 shares during the period. HighTower Advisors LLC’s holdings in HSBC were worth $18,856,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of HSBC. Prospect Financial Group LLC bought a new stake in shares of HSBC during the 3rd quarter valued at $231,000. Naviter Wealth LLC grew its holdings in HSBC by 3.1% during the third quarter. Naviter Wealth LLC now owns 86,705 shares of the financial services provider’s stock valued at $6,154,000 after purchasing an additional 2,631 shares during the period. Assetmark Inc. increased its position in HSBC by 85.2% in the third quarter. Assetmark Inc. now owns 27,175 shares of the financial services provider’s stock worth $1,929,000 after buying an additional 12,501 shares in the last quarter. Echo45 Advisors LLC bought a new position in shares of HSBC in the third quarter worth about $223,000. Finally, Wedbush Securities Inc. lifted its position in shares of HSBC by 101.3% during the 3rd quarter. Wedbush Securities Inc. now owns 26,822 shares of the financial services provider’s stock valued at $1,904,000 after buying an additional 13,495 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Analyst Ratings Changes

HSBC has been the topic of a number of recent analyst reports. Bank of America upgraded shares of HSBC from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 10th. Weiss Ratings restated a “hold (c+)” rating on shares of HSBC in a research note on Monday, December 29th. Citigroup reiterated a “buy” rating on shares of HSBC in a research note on Friday, January 9th. Keefe, Bruyette & Woods upgraded HSBC from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, December 17th. Finally, Zacks Research upgraded HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $63.00.

HSBC Stock Performance

HSBC stock opened at $86.87 on Friday. 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 Holdings plc has a twelve month low of $45.66 and a twelve month high of $90.81. The company’s 50-day moving average price is $82.97 and its 200-day moving average price is $73.41. The company has a market cap of $298.40 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 0.94 and a beta of 0.52.

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.