Bank of America Corp DE Has $150.25 Million Position in HSBC Holdings plc (NYSE:HSBC)

Bank of America Corp DE decreased its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 9.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,037,847 shares of the financial services provider’s stock after selling 317,366 shares during the period. Bank of America Corp DE owned 0.08% of HSBC worth $150,252,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Berbice Capital Management LLC acquired a new stake in HSBC in the 4th quarter valued at $25,000. Venturi Wealth Management LLC lifted its position in HSBC by 58.2% in the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 210 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in HSBC during the 4th quarter valued at about $30,000. Brooklyn Investment Group purchased a new stake in shares of HSBC in the fourth quarter worth approximately $49,000. Finally, Sierra Ocean LLC purchased a new position in shares of HSBC during the fourth quarter valued at approximately $73,000. 1.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HSBC has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of HSBC from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. StockNews.com raised HSBC from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. UBS Group reiterated a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. Finally, Royal Bank of Canada restated a “sector perform” rating on shares of HSBC in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

HSBC Stock Performance

NYSE:HSBC opened at $56.74 on Friday. HSBC Holdings plc has a 1 year low of $39.42 and a 1 year high of $61.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. The business has a fifty day simple moving average of $55.08 and a two-hundred day simple moving average of $51.67. The company has a market capitalization of $200.55 billion, a P/E ratio of 9.15, a P/E/G ratio of 1.05 and a beta of 0.53.

HSBC (NYSE:HSBC) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.60 by $0.35. The business had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $16.60 billion. HSBC had a net margin of 16.17% and a return on equity of 12.20%. On average, analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a yield of 3.5%. HSBC’s payout ratio is 36.33%.

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.