Level Four Advisory Services LLC boosted its holdings in shares of HSBC Holdings plc (NYSE:HSBC – Free Report) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,721 shares of the financial services provider’s stock after purchasing an additional 1,964 shares during the quarter. Level Four Advisory Services LLC’s holdings in HSBC were worth $1,296,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Syverson Strege & Co purchased a new stake in HSBC during the first quarter valued at $26,000. Allspring Global Investments Holdings LLC bought a new stake in shares of HSBC in the 1st quarter worth about $34,000. Column Capital Advisors LLC lifted its holdings in shares of HSBC by 40.1% in the 1st quarter. Column Capital Advisors LLC now owns 1,006 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 288 shares during the last quarter. Fifth Third Bancorp raised its position in HSBC by 286.7% in the 1st quarter. Fifth Third Bancorp now owns 1,102 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 817 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in HSBC in the first quarter worth about $42,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.
HSBC Stock Performance
Shares of HSBC stock opened at $39.54 on Friday. The firm has a market cap of $158.44 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 0.24 and a beta of 0.62. HSBC Holdings plc has a 52-week low of $24.77 and a 52-week high of $42.47. The company has a quick ratio of 0.98, a current ratio of 0.90 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $39.35 and its 200 day moving average is $37.79.
HSBC Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Friday, August 11th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend was Thursday, August 10th. HSBC’s dividend payout ratio is currently 33.39%.
Wall Street Analyst Weigh In
HSBC has been the subject of several analyst reports. The Goldman Sachs Group raised shares of HSBC from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 12th. StockNews.com initiated coverage on shares of HSBC in a research note on Thursday, August 17th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised shares of HSBC from a “neutral” rating to an “overweight” rating in a research note on Monday, August 7th. CICC Research raised shares of HSBC from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 14th. Finally, Royal Bank of Canada raised their price objective on shares of HSBC from GBX 800 ($9.91) to GBX 825 ($10.22) in a research note on Monday, August 14th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $746.20.
Check Out Our Latest Stock Report on HSBC
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.
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