HSBC Holdings plc (NYSE:HSBC) Stock Position Cut by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC trimmed its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 20.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,512 shares of the financial services provider’s stock after selling 6,122 shares during the quarter. Verdence Capital Advisors LLC’s holdings in HSBC were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Milestone Investment Advisors LLC acquired a new position in shares of HSBC in the 3rd quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of HSBC during the 2nd quarter valued at $27,000. Assetmark Inc. bought a new stake in shares of HSBC during the 3rd quarter worth $30,000. Paradigm Asset Management Co. LLC acquired a new stake in shares of HSBC during the third quarter worth $39,000. Finally, IFP Advisors Inc lifted its holdings in shares of HSBC by 71.2% during the second quarter. IFP Advisors Inc now owns 1,027 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 427 shares during the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on HSBC. Barclays reaffirmed an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th. BNP Paribas cut shares of HSBC from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $811.00.

HSBC Price Performance

Shares of NYSE:HSBC opened at $40.52 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.62. HSBC Holdings plc has a 1 year low of $34.89 and a 1 year high of $42.47. The business has a fifty day simple moving average of $39.28 and a 200 day simple moving average of $39.06. The firm has a market cap of $153.23 billion, a price-to-earnings ratio of 7.11, a P/E/G ratio of 0.95 and a beta of 0.63.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.57 EPS 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 19.02% and a return on equity of 12.89%. As a group, sell-side analysts predict that HSBC Holdings plc will post 7.24 earnings per share for the current fiscal year.

HSBC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Friday, March 8th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This is a boost from HSBC’s previous quarterly dividend of $0.50. This represents a $6.20 dividend on an annualized basis and a yield of 15.30%. HSBC’s dividend payout ratio is currently 108.42%.

About HSBC

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.