Leo Wealth LLC Makes New $617,000 Investment in HSBC Holdings plc (NYSE:HSBC)

Leo Wealth LLC purchased a new position in shares of HSBC Holdings plc (NYSE:HSBC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,298 shares of the financial services provider’s stock, valued at approximately $617,000.

Several other large investors have also modified their holdings of HSBC. Richardson Financial Services Inc. purchased a new stake in HSBC in the 4th quarter valued at $27,000. Addison Advisors LLC raised its position in HSBC by 74.8% during the 4th quarter. Addison Advisors LLC now owns 895 shares of the financial services provider’s stock worth $36,000 after buying an additional 383 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in HSBC by 38.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 940 shares of the financial services provider’s stock worth $38,000 after buying an additional 263 shares during the last quarter. Clear Street Markets LLC purchased a new position in HSBC during the 3rd quarter worth $58,000. Finally, Assetmark Inc. raised its position in HSBC by 198.4% during the 4th quarter. Assetmark Inc. now owns 2,295 shares of the financial services provider’s stock worth $93,000 after buying an additional 1,526 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barclays reaffirmed an “equal weight” rating on shares of HSBC in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, HSBC presently has a consensus rating of “Hold” and a consensus target price of $761.75.

HSBC Stock Up 1.1 %

HSBC opened at $43.70 on Tuesday. HSBC Holdings plc has a twelve month low of $35.30 and a twelve month high of $45.46. The firm has a market cap of $163.91 billion, a P/E ratio of 7.53, a price-to-earnings-growth ratio of 1.03 and a beta of 0.58. The business has a 50 day moving average price of $43.29 and a 200 day moving average price of $40.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 0.96.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.70 earnings per share for the quarter. The firm had revenue of $20.75 billion for the quarter. HSBC had a return on equity of 10.80% and a net margin of 16.13%. Research analysts forecast that HSBC Holdings plc will post 6.35 EPS for the current year.

HSBC Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Thursday, May 9th. HSBC’s dividend payout ratio 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.