Gunderson Capital Management Inc. Takes Position in HSBC Holdings plc (NYSE:HSBC)

Gunderson Capital Management Inc. bought a new position in shares of HSBC Holdings plc (NYSE:HSBC) in the 1st quarter, HoldingsChannel.com reports. The firm bought 179,124 shares of the financial services provider’s stock, valued at approximately $10,287,000. HSBC accounts for about 6.6% of Gunderson Capital Management Inc.’s portfolio, making the stock its 8th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Seven Mile Advisory lifted its position in shares of HSBC by 3.6% during the 4th quarter. Seven Mile Advisory now owns 5,405 shares of the financial services provider’s stock worth $267,000 after buying an additional 190 shares during the last quarter. GeoWealth Management LLC lifted its position in HSBC by 6.7% in the fourth quarter. GeoWealth Management LLC now owns 3,279 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 205 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in HSBC by 58.2% in the fourth 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. Horizon Investments LLC grew its holdings in shares of HSBC by 1.4% during the fourth quarter. Horizon Investments LLC now owns 17,302 shares of the financial services provider’s stock worth $856,000 after purchasing an additional 245 shares during the last quarter. Finally, Lido Advisors LLC increased its position in shares of HSBC by 3.4% during the fourth quarter. Lido Advisors LLC now owns 7,531 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 249 shares in the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HSBC has been the topic of a number of research reports. UBS Group restated a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of HSBC in a report on Monday, February 3rd. Wall Street Zen upgraded shares of HSBC from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft lowered shares of HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, Barclays upgraded shares of HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, HSBC presently has a consensus rating of “Moderate Buy”.

HSBC Price Performance

HSBC stock opened at $59.27 on Monday. 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 50 day simple moving average of $55.47 and a 200-day simple moving average of $53.16. HSBC Holdings plc has a 12 month low of $39.42 and a 12 month high of $61.88. The stock has a market capitalization of $209.50 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 1.05 and a beta of 0.53.

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

HSBC Dividend Announcement

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