Sierra Ocean LLC Takes Position in HSBC Holdings plc (NYSE:HSBC)

Sierra Ocean LLC purchased a new stake in HSBC Holdings plc (NYSE:HSBC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,481 shares of the financial services provider’s stock, valued at approximately $73,000.

Several other hedge funds and other institutional investors also recently modified their holdings of HSBC. Huntington National Bank lifted its stake in shares of HSBC by 11.9% in the 3rd quarter. Huntington National Bank now owns 2,122 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 226 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in HSBC by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,909 shares of the financial services provider’s stock valued at $990,000 after purchasing an additional 235 shares during the last quarter. Abel Hall LLC lifted its position in shares of HSBC by 4.3% during the third quarter. Abel Hall LLC now owns 6,221 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 257 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of HSBC by 1.9% during the third quarter. Integrated Wealth Concepts LLC now owns 14,185 shares of the financial services provider’s stock worth $641,000 after acquiring an additional 265 shares in the last quarter. Finally, Drive Wealth Management LLC increased its holdings in shares of HSBC by 3.9% in the fourth quarter. Drive Wealth Management LLC now owns 7,036 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 265 shares during the period. Institutional investors own 1.48% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft cut HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd.

HSBC Stock Down 0.2 %

Shares of NYSE:HSBC opened at $55.08 on Tuesday. The stock’s 50-day moving average price is $50.47 and its 200-day moving average price is $46.65. HSBC Holdings plc has a 12-month low of $36.93 and a 12-month high of $55.36. The stock has a market capitalization of $197.26 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 1.41 and a beta of 0.54. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.

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.