Raymond James Financial Inc. Purchases New Position in HSBC Holdings plc (NYSE:HSBC)

Raymond James Financial Inc. bought a new stake in shares of HSBC Holdings plc (NYSE:HSBC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 360,192 shares of the financial services provider’s stock, valued at approximately $17,815,000.

Several other institutional investors have also recently made changes to their positions in HSBC. Sanctuary Advisors LLC lifted its holdings in HSBC by 2.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 16,036 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 439 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of HSBC during the third quarter valued at about $122,000. JPMorgan Chase & Co. lifted its holdings in shares of HSBC by 103.6% in the third quarter. JPMorgan Chase & Co. now owns 56,860 shares of the financial services provider’s stock worth $2,570,000 after buying an additional 28,939 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of HSBC by 116.2% in the fourth quarter. Versant Capital Management Inc now owns 1,498 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 805 shares during the period. Finally, GAMMA Investing LLC increased its holdings in HSBC by 28.6% during the 4th quarter. GAMMA Investing LLC now owns 7,810 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 1,735 shares during the period. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Stock Up 1.0 %

Shares of NYSE HSBC opened at $52.52 on Monday. The stock has a market capitalization of $187.04 billion, a P/E ratio of 8.47, a PEG ratio of 1.05 and a beta of 0.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. HSBC Holdings plc has a one year low of $39.42 and a one year high of $61.88. The firm’s 50 day simple moving average is $55.44 and its two-hundred day simple moving average is $50.58.

HSBC (NYSE:HSBC) last issued its 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. HSBC had a net margin of 16.17% and a return on equity of 12.20%. The company had revenue of $11.56 billion for the quarter, compared to analysts’ expectations of $13.79 billion. As a group, analysts expect that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 7th will be paid a $1.80 dividend. The ex-dividend date is Friday, March 7th. This represents a $7.20 dividend on an annualized basis and a yield of 13.71%. HSBC’s dividend payout ratio (DPR) is currently 115.81%.

Analyst Upgrades and Downgrades

HSBC has been the subject of a number of recent analyst reports. Barclays upgraded shares of HSBC from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. StockNews.com upgraded shares of HSBC from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft lowered shares of HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating on shares of HSBC in a report on Monday, February 3rd. Finally, UBS Group reaffirmed a “neutral” rating on shares of HSBC in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

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.