Global Retirement Partners LLC Buys New Shares in HSBC Holdings plc $HSBC

Global Retirement Partners LLC purchased a new position in HSBC Holdings plc (NYSE:HSBC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,179 shares of the financial services provider’s stock, valued at approximately $497,000.

A number of other institutional investors and hedge funds also recently modified their holdings of HSBC. NewSquare Capital LLC grew its holdings in shares of HSBC by 152.6% in the 2nd quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 261 shares during the last quarter. TD Private Client Wealth LLC increased its stake in HSBC by 101.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 234 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in HSBC during the 2nd quarter worth about $31,000. Raleigh Capital Management Inc. purchased a new stake in HSBC during the second quarter valued at about $33,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of HSBC in the second quarter worth about $39,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Jefferies Financial Group restated a “hold” rating on shares of HSBC in a research report on Friday, October 10th. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Zacks Research raised HSBC from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, Erste Group Bank raised HSBC from a “hold” rating to a “buy” rating in a research note on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, HSBC currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

HSBC Price Performance

HSBC opened at $71.22 on Friday. The stock has a fifty day moving average price of $69.57 and a 200 day moving average price of $65.02. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. HSBC Holdings plc has a 1 year low of $45.66 and a 1 year high of $74.17. The stock has a market cap of $244.64 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.30 and a beta of 0.64.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. The company had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. Analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 7th will be given a $0.50 dividend. This is a positive change from HSBC’s previous quarterly dividend of $0.50. This represents a $2.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 7th. HSBC’s payout ratio is presently 41.68%.

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.