EverSource Wealth Advisors LLC Acquires 559 Shares of HSBC Holdings plc (NYSE:HSBC)

EverSource Wealth Advisors LLC increased its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 29.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,473 shares of the financial services provider’s stock after purchasing an additional 559 shares during the period. EverSource Wealth Advisors LLC’s holdings in HSBC were worth $122,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC lifted its stake in HSBC by 44.3% in the third quarter. FMR LLC now owns 2,442,205 shares of the financial services provider’s stock valued at $110,363,000 after buying an additional 749,759 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of HSBC by 2.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 514,642 shares of the financial services provider’s stock worth $25,454,000 after acquiring an additional 14,095 shares during the period. Raymond James Financial Inc. bought a new stake in HSBC in the 4th quarter valued at $17,815,000. Bank of New York Mellon Corp boosted its stake in HSBC by 135.6% in the 4th quarter. Bank of New York Mellon Corp now owns 347,565 shares of the financial services provider’s stock worth $17,191,000 after purchasing an additional 200,054 shares during the period. Finally, QRG Capital Management Inc. raised its stake in shares of HSBC by 11.7% in the 4th quarter. QRG Capital Management Inc. now owns 346,661 shares of the financial services provider’s stock valued at $17,146,000 after purchasing an additional 36,219 shares during the period. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HSBC. Deutsche Bank Aktiengesellschaft cut HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a report on Monday, February 3rd. Barclays upgraded shares of HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. UBS Group reissued a “neutral” rating on shares of HSBC in a research report on Thursday, March 6th. Finally, StockNews.com upgraded HSBC from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

HSBC Price Performance

Shares of HSBC opened at $57.83 on Tuesday. The company has a market cap of $206.27 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.05 and a beta of 0.51. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. The company’s fifty day simple moving average is $54.14 and its 200 day simple moving average is $48.87. HSBC Holdings plc has a 1-year low of $38.34 and a 1-year high of $61.88.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.04. The business had revenue of $11.56 billion during the quarter, compared to analysts’ expectations of $13.79 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. On average, research analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 12.45%. The ex-dividend date of this dividend is Friday, March 7th. HSBC’s dividend payout ratio is 115.81%.

HSBC 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.