Naviter Wealth LLC Has $2.66 Million Stock Position in HSBC Holdings plc (NYSE:HSBC)

Naviter Wealth LLC boosted its holdings in HSBC Holdings plc (NYSE:HSBC) by 26.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,548 shares of the financial services provider’s stock after buying an additional 13,787 shares during the quarter. Naviter Wealth LLC’s holdings in HSBC were worth $2,657,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. CWM LLC raised its position in HSBC by 27.4% during the 3rd quarter. CWM LLC now owns 4,915 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 1,056 shares during the last quarter. IFP Advisors Inc lifted its position in shares of HSBC by 77.9% in the 3rd quarter. IFP Advisors Inc now owns 1,827 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 800 shares during the period. DAVENPORT & Co LLC increased its position in shares of HSBC by 33.9% during the third quarter. DAVENPORT & Co LLC now owns 19,995 shares of the financial services provider’s stock worth $789,000 after buying an additional 5,067 shares during the period. Ballentine Partners LLC increased its position in HSBC by 11.3% in the 3rd quarter. Ballentine Partners LLC now owns 7,844 shares of the financial services provider’s stock valued at $310,000 after buying an additional 794 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich increased its holdings in shares of HSBC by 14.4% during the third quarter. Lester Murray Antman dba SimplyRich now owns 6,060 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 765 shares in the last quarter. Institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

HSBC stock traded up $0.44 during mid-day trading on Monday, reaching $42.34. 986,296 shares of the company’s stock were exchanged, compared to its average volume of 2,215,934. The firm has a market capitalization of $160.12 billion, a PE ratio of 7.42, a P/E/G ratio of 0.99 and a beta of 0.63. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $39.52 and its 200 day simple moving average is $39.12. HSBC Holdings plc has a one year low of $35.30 and a one year high of $42.47.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.33). The company had revenue of $13.02 billion for the quarter. HSBC had a net margin of 19.02% and a return on equity of 12.89%. On average, sell-side analysts expect that HSBC Holdings plc will post 7.24 earnings per share for the current year.

HSBC Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Friday, March 8th were issued a dividend of $1.55 per share. This is an increase from HSBC’s previous quarterly dividend of $0.50. This represents a $6.20 dividend on an annualized basis and a dividend yield of 14.64%. The ex-dividend date was Thursday, March 7th. HSBC’s payout ratio is currently 108.42%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HSBC. BNP Paribas lowered shares of HSBC from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 16th. Barclays reissued an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $811.00.

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.