Bank of New York Mellon Corp Sells 5,087 Shares of HSBC Holdings plc $HSBC

Bank of New York Mellon Corp cut its holdings in HSBC Holdings plc (NYSE:HSBC) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,818 shares of the financial services provider’s stock after selling 5,087 shares during the quarter. Bank of New York Mellon Corp’s holdings in HSBC were worth $25,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in HSBC. Transamerica Financial Advisors LLC increased its stake in shares of HSBC by 287.1% in the 4th quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in HSBC during the third quarter valued at $26,000. Binnacle Investments Inc lifted its position in shares of HSBC by 80.5% in the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 198 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of HSBC in the first quarter worth $41,000. Finally, JPL Wealth Management LLC bought a new position in shares of HSBC during the 3rd quarter valued at about $41,000. Institutional investors own 1.48% of the company’s stock.

Insider Activity at HSBC

In other news, insider Daniel Scott Palomaki sold 23,123 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total value of $418,757.53. Following the completion of the transaction, the insider owned 4,973 shares of the company’s stock, valued at approximately $90,061.03. This trade represents a 82.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.01% of the company’s stock.

HSBC Price Performance

NYSE:HSBC opened at $103.96 on Tuesday. The stock has a 50 day moving average of $95.51 and a two-hundred day moving average of $89.63. HSBC Holdings plc has a 12 month low of $60.61 and a 12 month high of $104.33. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52. The firm has a market cap of $357.27 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 0.92 and a beta of 0.57.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. The firm had revenue of $19.12 billion for the quarter. On average, analysts expect that HSBC Holdings plc will post 8.66 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 15th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.00 annualized dividend and a yield of 1.9%. HSBC’s dividend payout ratio is presently 32.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Erste Group Bank cut shares of HSBC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Weiss Ratings lowered HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. BNP Paribas Exane lowered HSBC from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 14th. Citigroup reiterated a “buy” rating on shares of HSBC in a report on Thursday, July 16th. Finally, Zacks Research downgraded HSBC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Key Stories Impacting HSBC

Here are the key news stories impacting HSBC this week:

• Positive Sentiment: HSBC plans to hire more than 100 artificial-intelligence specialists and 100 wealth relationship managers in Singapore. The investment could accelerate automation, improve productivity and expand wealth-management revenue, a higher-margin business that supports the bank’s Asian growth strategy. Reuters article on HSBC hiring AI specialists and wealth managers
• Positive Sentiment: The bank is also tapping debt-capital-markets leaders across the United States and Middle East. The hires indicate an effort to capture more corporate-finance and bond-issuance activity, potentially boosting fee income. Bloomberg article on HSBC debt-capital-markets hires
• Neutral Sentiment: Blackstone’s credit arm is reportedly nearing a deal to acquire HSBC’s Australian loan book, valued at more than $30 billion. A sale could simplify HSBC’s portfolio and release capital for strategic priorities, but the financial terms, timing and effect on earnings have not been disclosed. Yahoo Finance report on Blackstone and HSBC Australian loan book
• Neutral Sentiment: HSBC is reportedly raising mortgage rates in the United Kingdom for the second time in a week. Higher rates may support lending margins, but could reduce mortgage demand and increase pressure on customers and competitors. Report on HSBC increasing mortgage rates

HSBC Company Profile

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.