HSBC Holdings plc $HSBC Stock Position Cut by Castleark Management LLC

Castleark Management LLC trimmed its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 50.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,100 shares of the financial services provider’s stock after selling 42,100 shares during the period. Castleark Management LLC’s holdings in HSBC were worth $2,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HSBC. Goldman Sachs Group Inc. boosted its position in shares of HSBC by 1.1% during the 1st 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 in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of HSBC in the 1st quarter valued at $391,000. Acadian Asset Management LLC raised its holdings in shares of 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 buying an additional 17,021 shares in the last quarter. ABC Arbitrage SA lifted its position in shares of HSBC by 237.0% during the 2nd quarter. ABC Arbitrage SA now owns 170,779 shares of the financial services provider’s stock worth $10,382,000 after buying an additional 120,110 shares during the last quarter. Finally, Fortis Capital Advisors LLC bought a new position in HSBC in the first quarter valued at about $391,000. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HSBC. Bank of America upgraded HSBC from a “neutral” rating to a “buy” rating in a report on Wednesday, December 10th. Citigroup reiterated a “buy” rating on shares of HSBC in a report on Tuesday, October 21st. BNP Paribas Exane upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of HSBC in a research note on Monday, December 8th. Finally, Erste Group Bank raised shares of HSBC from a “hold” rating to a “buy” rating in a research report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

HSBC Price Performance

Shares of NYSE:HSBC opened at $74.92 on Monday. The stock’s 50 day moving average is $69.96 and its 200-day moving average is $66.00. HSBC Holdings plc has a twelve month low of $45.66 and a twelve month high of $75.44. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $257.36 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 0.94 and a beta of 0.52.

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

HSBC Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 7th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. This is a boost from HSBC’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, November 7th. HSBC’s dividend payout ratio (DPR) is currently 41.68%.

HSBC Company 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.