Farther Finance Advisors LLC Boosts Stake in HSBC Holdings plc $HSBC

Farther Finance Advisors LLC boosted its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 166.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,764 shares of the financial services provider’s stock after purchasing an additional 7,347 shares during the period. Farther Finance Advisors LLC’s holdings in HSBC were worth $835,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Fisher Asset Management LLC lifted its position in shares of HSBC by 9.2% during the 2nd quarter. Fisher Asset Management LLC now owns 17,043,371 shares of the financial services provider’s stock valued at $1,036,067,000 after buying an additional 1,430,797 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in HSBC by 1.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock worth $271,438,000 after acquiring an additional 53,072 shares during the period. American Century Companies Inc. lifted its holdings in HSBC by 11.9% during the second quarter. American Century Companies Inc. now owns 1,143,382 shares of the financial services provider’s stock valued at $69,506,000 after purchasing an additional 121,151 shares in the last quarter. Royal Bank of Canada boosted its position in shares of HSBC by 18.7% in the first quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider’s stock worth $60,155,000 after purchasing an additional 164,915 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of HSBC by 160.9% in the second quarter. JPMorgan Chase & Co. now owns 502,200 shares of the financial services provider’s stock worth $30,529,000 after purchasing an additional 309,738 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Price Performance

NYSE:HSBC opened at $78.81 on Tuesday. The business’s 50-day moving average is $72.20 and its 200 day moving average is $67.41. HSBC Holdings plc has a 12 month low of $45.66 and a 12 month high of $79.97. The company has a market capitalization of $270.73 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.01 and a beta of 0.52. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

HSBC (NYSE:HSBC) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. The business had revenue of $17.79 billion for the quarter, compared to the consensus estimate of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. On average, equities research analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Friday, November 7th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from HSBC’s previous quarterly dividend of $0.50. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. HSBC’s payout ratio is currently 41.68%.

Analyst Ratings Changes

HSBC has been the subject of several recent analyst reports. Zacks Research raised shares of HSBC from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Erste Group Bank upgraded HSBC from a “hold” rating to a “buy” rating in a research report on Thursday, November 20th. BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HSBC in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

HSBC Profile

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.