Syverson Strege & Co Buys Shares of 4,367 HSBC Holdings plc $HSBC

Syverson Strege & Co bought a new stake in shares of HSBC Holdings plc (NYSE:HSBC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 4,367 shares of the financial services provider’s stock, valued at approximately $265,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in shares of HSBC by 1.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock worth $271,438,000 after buying an additional 53,072 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of HSBC during the first quarter worth about $391,000. Acadian Asset Management LLC grew its holdings in shares of HSBC by 254.2% during the first 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. Bridgewater Advisors Inc. purchased a new stake in shares of HSBC during the first quarter worth about $443,000. Finally, Atlas Capital Advisors Inc. grew its holdings in shares of HSBC by 501.3% during the first quarter. Atlas Capital Advisors Inc. now owns 12,032 shares of the financial services provider’s stock worth $691,000 after buying an additional 10,031 shares in the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Trading Down 0.4%

Shares of HSBC stock opened at $70.06 on Friday. The stock has a market cap of $241.74 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 1.30 and a beta of 0.62. The company has a quick ratio of 0.93, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. HSBC Holdings plc has a fifty-two week low of $44.40 and a fifty-two week high of $72.21. The firm’s 50 day moving average price is $67.95 and its two-hundred day moving average price is $62.82.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.15. HSBC had a net margin of 12.85% and a return on equity of 12.78%. The firm had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $16.78 billion. On average, analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 7th. This is an increase from HSBC’s previous quarterly dividend of $0.50. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.9%. HSBC’s dividend payout ratio is presently 41.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on HSBC shares. Zacks Research downgraded shares of HSBC from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of HSBC in a research report on Wednesday, October 8th. BNP Paribas raised shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. Jefferies Financial Group reissued a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Finally, Citigroup reissued a “buy” rating on shares of HSBC in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, HSBC presently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.