Truist Financial Corp Sells 3,043 Shares of HSBC Holdings plc $HSBC

Truist Financial Corp lessened its stake in HSBC Holdings plc (NYSE:HSBC) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,884 shares of the financial services provider’s stock after selling 3,043 shares during the quarter. Truist Financial Corp’s holdings in HSBC were worth $4,917,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in HSBC by 1.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock worth $271,438,000 after acquiring an additional 53,072 shares during the period. Belpointe Asset Management LLC acquired a new stake in HSBC during the 1st quarter worth approximately $391,000. Acadian Asset Management LLC raised its holdings in HSBC by 254.2% during the 1st quarter. Acadian Asset Management LLC now owns 23,718 shares of the financial services provider’s stock worth $1,362,000 after purchasing an additional 17,021 shares during the last quarter. Bridgewater Advisors Inc. bought a new position in HSBC during the 1st quarter worth approximately $443,000. Finally, Atlas Capital Advisors Inc. raised its holdings in HSBC by 501.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 12,032 shares of the financial services provider’s stock worth $691,000 after purchasing an additional 10,031 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Performance

Shares of HSBC stock opened at $70.71 on Wednesday. HSBC Holdings plc has a 12 month low of $43.81 and a 12 month high of $72.21. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $66.52 and a two-hundred day simple moving average of $61.02. The firm has a market capitalization of $245.39 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.60 and a beta of 0.62.

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

HSBC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 15th were given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 15th. HSBC’s dividend payout ratio (DPR) is presently 39.21%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BNP Paribas upgraded shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of HSBC in a report on Saturday, September 27th. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Citigroup restated a “buy” rating on shares of HSBC in a research note on Monday, September 22nd. Finally, Zacks Research cut HSBC from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, HSBC has a consensus rating of “Moderate Buy” and a consensus 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.