HSBC Holdings plc (NYSE:HSBC) Shares Bought by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. lifted its position in shares of HSBC Holdings plc (NYSE:HSBC) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,227 shares of the financial services provider’s stock after buying an additional 1,895 shares during the period. Legacy Financial Advisors Inc.’s holdings in HSBC were worth $617,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in HSBC. Prime Capital Investment Advisors LLC purchased a new stake in HSBC during the fourth quarter worth approximately $352,000. Ativo Capital Management LLC purchased a new position in HSBC in the fourth quarter valued at about $1,181,000. Sequoia Financial Advisors LLC lifted its stake in shares of HSBC by 11.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 26,256 shares of the financial services provider’s stock worth $1,064,000 after purchasing an additional 2,724 shares in the last quarter. Morgan Stanley boosted its position in shares of HSBC by 0.9% in the third quarter. Morgan Stanley now owns 8,374,688 shares of the financial services provider’s stock worth $330,465,000 after buying an additional 73,129 shares during the period. Finally, Sanders Capital LLC grew its stake in shares of HSBC by 29.0% in the third quarter. Sanders Capital LLC now owns 95,080 shares of the financial services provider’s stock valued at $3,752,000 after buying an additional 21,380 shares in the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HSBC. Barclays reaffirmed an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. BNP Paribas downgraded shares of HSBC from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $755.40.

HSBC Stock Down 0.1 %

HSBC traded down $0.06 during trading on Friday, hitting $44.45. The company had a trading volume of 1,466,120 shares, compared to its average volume of 2,086,224. The company has a market cap of $168.10 billion, a PE ratio of 7.66, a P/E/G ratio of 1.00 and a beta of 0.58. The business has a 50-day moving average of $40.00 and a 200-day moving average of $39.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.96 and a quick ratio of 0.90. HSBC Holdings plc has a 1-year low of $35.30 and a 1-year high of $44.81.

HSBC (NYSE:HSBC) last announced 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). The firm had revenue of $13.02 billion during the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.80%. As a group, analysts forecast that HSBC Holdings plc will post 6.77 earnings per share for the current year.

HSBC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.50%. HSBC’s dividend payout ratio (DPR) is 34.14%.

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.