Ballentine Partners LLC Boosts Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Ballentine Partners LLC raised its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 43.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 13,609 shares of the financial services provider’s stock after purchasing an additional 4,106 shares during the period. Ballentine Partners LLC’s holdings in HSBC were worth $536,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Richardson Financial Services Inc. purchased a new position in shares of HSBC in the 4th quarter worth approximately $27,000. Rise Advisors LLC purchased a new position in shares of HSBC in the 1st quarter worth approximately $34,000. Addison Advisors LLC grew its position in shares of HSBC by 74.8% in 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. grew 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 purchasing an additional 263 shares during the last quarter. Finally, Assetmark Inc. grew 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 purchasing an additional 1,526 shares during the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

Shares of NYSE HSBC opened at $44.07 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. HSBC Holdings plc has a 12 month low of $35.30 and a 12 month high of $45.46. The company has a 50 day simple moving average of $43.57 and a two-hundred day simple moving average of $40.85. The stock has a market cap of $165.28 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 1.04 and a beta of 0.58.

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

HSBC Cuts Dividend

The company also recently announced 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 dividend yield of 4.54%. The ex-dividend date of this dividend was Thursday, May 9th. HSBC’s dividend payout ratio is currently 34.14%.

Wall Street Analyst Weigh In

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

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.