Old Port Advisors Trims Holdings in HSBC Holdings plc $HSBC

Old Port Advisors decreased its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 3.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,838 shares of the financial services provider’s stock after selling 2,260 shares during the quarter. HSBC comprises 1.0% of Old Port Advisors’ holdings, making the stock its 23rd largest position. Old Port Advisors’ holdings in HSBC were worth $3,698,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in HSBC. Westover Capital Advisors LLC raised its position in HSBC by 2.5% in the first quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 200 shares during the period. Contravisory Investment Management Inc. raised its position in HSBC by 4.4% in the second quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 210 shares during the period. Smartleaf Asset Management LLC raised its position in HSBC by 1.3% in the first quarter. Smartleaf Asset Management LLC now owns 17,094 shares of the financial services provider’s stock valued at $988,000 after purchasing an additional 223 shares during the period. TD Private Client Wealth LLC raised its position in HSBC by 101.7% in the second quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 234 shares during the period. Finally, Larson Financial Group LLC raised its position in HSBC by 32.1% in the first quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Stock Up 1.3%

Shares of NYSE HSBC opened at $69.84 on Friday. The stock has a market cap of $242.38 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.54 and a beta of 0.65. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a 52-week low of $43.81 and a 52-week high of $71.04. The business has a 50-day moving average price of $65.61 and a 200 day moving average price of $60.34.

HSBC (NYSE:HSBC) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.33. The firm had revenue of $16.90 billion during the quarter, compared to analysts’ expectations of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. Equities research analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 15th were issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, August 15th. HSBC’s dividend payout ratio is 39.21%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HSBC. Citigroup reiterated a “buy” rating on shares of HSBC in a report on Monday. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. Bank of America reissued a “neutral” rating and set a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. Finally, BNP Paribas Exane raised HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.00.

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.