HSBC Holdings plc $HSBC Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC lowered its position in shares of HSBC Holdings plc (NYSE:HSBC) by 28.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 26,710 shares of the financial services provider’s stock after selling 10,521 shares during the quarter. Sowell Financial Services LLC’s holdings in HSBC were worth $1,896,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in shares of HSBC by 9.2% during the second quarter. Fisher Asset Management LLC now owns 17,043,371 shares of the financial services provider’s stock worth $1,036,067,000 after purchasing an additional 1,430,797 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of HSBC by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock worth $271,438,000 after acquiring an additional 53,072 shares during the period. American Century Companies Inc. raised its holdings in shares of HSBC by 11.9% during the second quarter. American Century Companies Inc. now owns 1,143,382 shares of the financial services provider’s stock worth $69,506,000 after purchasing an additional 121,151 shares during the last quarter. Royal Bank of Canada boosted its holdings in HSBC by 18.7% in the first quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider’s stock valued at $60,155,000 after purchasing an additional 164,915 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in HSBC by 160.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 502,200 shares of the financial services provider’s stock worth $30,529,000 after purchasing an additional 309,738 shares during the period. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Price Performance

HSBC stock opened at $78.81 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. The company’s fifty day moving average price is $72.20 and its 200 day moving average price is $67.41. The stock has a market capitalization of $270.73 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.01 and a beta of 0.52. HSBC Holdings plc has a 1 year low of $45.66 and a 1 year high of $79.97.

HSBC (NYSE:HSBC) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.15. HSBC had a net margin of 12.85% and a return on equity of 12.78%. The business had revenue of $17.79 billion for the quarter, compared to analyst estimates of $16.78 billion. As a group, equities research analysts anticipate 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 was paid on Thursday, December 18th. Shareholders of record on Friday, November 7th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, November 7th. This is an increase from HSBC’s previous quarterly dividend of $0.50. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. HSBC’s payout ratio is currently 41.68%.

Analyst Ratings Changes

HSBC has been the topic of a number of recent research reports. Erste Group Bank upgraded HSBC from a “hold” rating to a “buy” rating in a research note on Thursday, November 20th. Keefe, Bruyette & Woods upgraded HSBC from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, December 17th. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of HSBC in a report on Monday, December 22nd. Finally, BNP Paribas upgraded shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

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.