HSBC Holdings plc (NYSE:HSBC) Shares Purchased by Meritage Portfolio Management

Meritage Portfolio Management raised its holdings in HSBC Holdings plc (NYSE:HSBC) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 247,629 shares of the financial services provider’s stock after acquiring an additional 16,015 shares during the period. Meritage Portfolio Management’s holdings in HSBC were worth $10,039,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of HSBC. Yousif Capital Management LLC grew its stake in shares of HSBC by 4.9% in the 4th quarter. Yousif Capital Management LLC now owns 68,308 shares of the financial services provider’s stock valued at $2,769,000 after buying an additional 3,200 shares during the period. GAMMA Investing LLC purchased a new stake in HSBC in the fourth quarter valued at $119,000. PDS Planning Inc grew its holdings in shares of HSBC by 3.9% during the 4th quarter. PDS Planning Inc now owns 13,023 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 494 shares during the period. CWM LLC raised its holdings in HSBC by 3,518.2% in the 4th quarter. CWM LLC now owns 177,835 shares of the financial services provider’s stock valued at $7,209,000 after buying an additional 172,920 shares during the period. Finally, Signaturefd LLC increased its position in shares of HSBC by 7.6% during the fourth quarter. Signaturefd LLC now owns 41,718 shares of the financial services provider’s stock valued at $1,691,000 after acquiring an additional 2,936 shares during the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HSBC has been the subject of a number of recent analyst reports. BNP Paribas downgraded shares of HSBC from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 16th. Barclays reaffirmed an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, HSBC presently has an average rating of “Hold” and an average price target of $811.00.

HSBC Stock Up 0.2 %

Shares of HSBC stock traded up $0.09 on Friday, hitting $41.90. 969,340 shares of the company’s stock traded hands, compared to its average volume of 2,226,308. The stock has a market cap of $158.45 billion, a P/E ratio of 7.35, a PEG ratio of 0.98 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. HSBC Holdings plc has a 52-week low of $35.30 and a 52-week high of $42.47. The firm’s 50-day moving average is $39.48 and its 200 day moving average is $39.12.

HSBC (NYSE:HSBC) last released its quarterly earnings data 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). HSBC had a return on equity of 12.89% and a net margin of 19.02%. The business had revenue of $13.02 billion for the quarter. Equities analysts anticipate that HSBC Holdings plc will post 7.24 earnings per share for the current year.

HSBC Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Friday, March 8th were paid a $1.55 dividend. The ex-dividend date was Thursday, March 7th. This represents a $6.20 dividend on an annualized basis and a yield of 14.80%. This is a boost from HSBC’s previous quarterly dividend of $0.50. HSBC’s dividend payout ratio (DPR) is currently 108.42%.

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.