Kestra Private Wealth Services LLC Takes $206,000 Position in HSBC Holdings plc (NYSE:HSBC)

Kestra Private Wealth Services LLC purchased a new stake in HSBC Holdings plc (NYSE:HSBC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,092 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its holdings in shares of HSBC by 34.0% in the third quarter. Fifth Third Bancorp now owns 1,321 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 335 shares in the last quarter. Addison Advisors LLC boosted its holdings in HSBC by 74.8% during the 4th quarter. Addison Advisors LLC now owns 895 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 383 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in HSBC by 1.4% during the third quarter. Lake Street Advisors Group LLC now owns 28,179 shares of the financial services provider’s stock worth $1,112,000 after purchasing an additional 393 shares during the last quarter. Greenleaf Trust increased its stake in HSBC by 4.5% in the 4th quarter. Greenleaf Trust now owns 10,665 shares of the financial services provider’s stock valued at $432,000 after buying an additional 459 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of HSBC by 6.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,216 shares of the financial services provider’s stock worth $324,000 after buying an additional 464 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Price Performance

Shares of NYSE:HSBC opened at $43.49 on Friday. The company’s fifty day moving average price is $40.40 and its 200-day moving average price is $39.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $164.45 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 1.00 and a beta of 0.58. HSBC Holdings plc has a one year low of $35.30 and a one year high of $45.46.

HSBC (NYSE:HSBC) last released its earnings results on Wednesday, February 21st. The financial services provider reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). HSBC had a net margin of 16.13% and a return on equity of 10.80%. The firm had revenue of $13.02 billion during the quarter. On average, equities research analysts anticipate that HSBC Holdings plc will post 6.77 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.00 dividend on an annualized basis and a yield of 4.60%. HSBC’s payout ratio is 34.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HSBC shares. Barclays reaffirmed an “equal weight” rating on shares of HSBC in a report on Wednesday, March 27th. BNP Paribas downgraded shares of HSBC from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $761.75.

About HSBC

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.