4,942 Shares in HSBC Holdings plc (NYSE:HSBC) Acquired by Wedmont Private Capital

Wedmont Private Capital bought a new stake in shares of HSBC Holdings plc (NYSE:HSBC) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 4,942 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Kestra Advisory Services LLC increased its position in shares of HSBC by 35.8% during the third quarter. Kestra Advisory Services LLC now owns 7,667 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 2,021 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in HSBC during the third quarter worth $664,000. Envestnet Asset Management Inc. raised its position in shares of HSBC by 8.2% in the third quarter. Envestnet Asset Management Inc. now owns 615,582 shares of the financial services provider’s stock valued at $24,291,000 after purchasing an additional 46,653 shares during the period. Acadian Asset Management LLC bought a new stake in shares of HSBC during the 3rd quarter worth about $463,000. Finally, Mariner LLC grew its position in shares of HSBC by 9.2% in the third quarter. Mariner LLC now owns 132,910 shares of the financial services provider’s stock valued at $5,245,000 after purchasing an additional 11,213 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors.

HSBC Trading Down 1.8 %

HSBC opened at $43.50 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51. HSBC Holdings plc has a twelve month low of $35.30 and a twelve month high of $45.46. The stock has a market capitalization of $163.16 billion, a price-to-earnings ratio of 7.50, a P/E/G ratio of 1.06 and a beta of 0.58. The company has a 50-day simple moving average of $43.50 and a 200 day simple moving average of $40.82.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.70 EPS for the quarter. The business had revenue of $20.75 billion during the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.80%. Analysts predict that HSBC Holdings plc will post 6.35 EPS for the current fiscal year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 10th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.60%. The ex-dividend date was Thursday, May 9th. HSBC’s dividend payout ratio (DPR) is presently 34.14%.

Analyst Upgrades and Downgrades

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

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.