Truist Financial Corp Sells 1,697 Shares of HSBC Holdings plc (NYSE:HSBC)

Truist Financial Corp reduced its position in shares of HSBC Holdings plc (NYSE:HSBCGet Rating) by 10.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,794 shares of the financial services provider’s stock after selling 1,697 shares during the quarter. Truist Financial Corp’s holdings in HSBC were worth $386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Zions Bancorporation N.A. increased its stake in HSBC by 31.3% during the 2nd quarter. Zions Bancorporation N.A. now owns 1,312 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 313 shares in the last quarter. Brinker Capital Investments LLC increased its stake in HSBC by 3.9% during the 1st quarter. Brinker Capital Investments LLC now owns 10,424 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 388 shares in the last quarter. Cetera Advisor Networks LLC increased its stake in HSBC by 5.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 8,603 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 463 shares in the last quarter. UMB Bank n.a. increased its stake in HSBC by 52.5% during the 3rd quarter. UMB Bank n.a. now owns 1,414 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 487 shares in the last quarter. Finally, Spire Wealth Management increased its stake in HSBC by 74.6% during the 2nd quarter. Spire Wealth Management now owns 1,170 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. 1.26% of the stock is currently owned by institutional investors.

HSBC Stock Performance

HSBC opened at $36.69 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The company has a market cap of $149.05 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 0.35 and a beta of 0.57. The company’s 50 day moving average is $31.77 and its 200 day moving average is $30.30. HSBC Holdings plc has a 12-month low of $24.77 and a 12-month high of $38.61.

HSBC (NYSE:HSBCGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.60). HSBC had a net margin of 24.55% and a return on equity of 6.04%. The firm had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $13.80 billion. On average, equities research analysts predict that HSBC Holdings plc will post 3.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HSBC shares. Exane BNP Paribas upgraded shares of HSBC from an “underperform” rating to a “neutral” rating in a research note on Wednesday, October 26th. StockNews.com lowered shares of HSBC from a “buy” rating to a “hold” rating in a research note on Saturday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of HSBC from a “hold” rating to a “buy” rating in a research note on Monday, January 16th. Jefferies Financial Group upgraded shares of HSBC from a “hold” rating to a “buy” rating in a research note on Thursday, January 5th. Finally, Keefe, Bruyette & Woods upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Wednesday, October 19th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HSBC currently has a consensus rating of “Moderate Buy” and a consensus target price of $617.67.

HSBC Company Profile

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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.

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Institutional Ownership by Quarter for HSBC (NYSE:HSBC)

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