Raymond James Financial Services Advisors Inc. Makes New Investment in HSBC Holdings plc (NYSE:HSBC)

Raymond James Financial Services Advisors Inc. purchased a new stake in HSBC Holdings plc (NYSE:HSBCGet Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,769 shares of the financial services provider’s stock, valued at approximately $568,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation N.A. raised its holdings in HSBC by 31.3% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,312 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 313 shares during the period. Brinker Capital Investments LLC lifted its position in shares of HSBC by 3.9% during the 1st quarter. Brinker Capital Investments LLC now owns 10,424 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 388 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in HSBC by 5.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 8,603 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 463 shares during the period. UMB Bank n.a. increased its position in HSBC by 52.5% in the 3rd quarter. UMB Bank n.a. now owns 1,414 shares of the financial services provider’s stock worth $37,000 after buying an additional 487 shares during the period. Finally, Spire Wealth Management lifted its holdings in shares of HSBC by 74.6% during the second quarter. Spire Wealth Management now owns 1,170 shares of the financial services provider’s stock worth $38,000 after buying an additional 500 shares during the last quarter. 1.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HSBC has been the topic of a number of research reports. BNP Paribas raised shares of HSBC from an “underperform” rating to a “neutral” rating in a research report on Wednesday, October 26th. JPMorgan Chase & Co. boosted their price target on HSBC from GBX 530 ($6.56) to GBX 570 ($7.06) in a research note on Tuesday, December 6th. Jefferies Financial Group upgraded HSBC from a “hold” rating to a “buy” rating in a research report on Thursday, January 5th. Keefe, Bruyette & Woods upgraded HSBC from an “underperform” rating to an “outperform” rating in a research report on Wednesday, October 19th. Finally, UBS Group raised their target price on HSBC from GBX 680 ($8.42) to GBX 700 ($8.67) in a research report on Thursday, November 3rd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, HSBC has a consensus rating of “Moderate Buy” and an average price target of $617.67.

HSBC Price Performance

Shares of HSBC stock opened at $36.69 on Wednesday. HSBC Holdings plc has a 1-year low of $24.77 and a 1-year high of $38.61. The firm’s 50-day moving average price is $31.77 and its two-hundred day moving average price is $30.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $149.05 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.35 and a beta of 0.57.

HSBC (NYSE:HSBCGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.60). HSBC had a net margin of 24.55% and a return on equity of 6.04%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $13.80 billion. On average, equities analysts predict that HSBC Holdings plc will post 3.68 earnings per share for the current fiscal year.

HSBC Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for HSBC (NYSE:HSBC)

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