NBC Securities Inc. Reduces Stock Position in HSBC Holdings plc (NYSE:HSBC)

NBC Securities Inc. lowered its holdings in HSBC Holdings plc (NYSE:HSBC) by 17.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,804 shares of the financial services provider’s stock after selling 390 shares during the quarter. NBC Securities Inc.’s holdings in HSBC were worth $71,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in HSBC. Prime Capital Investment Advisors LLC purchased a new stake in HSBC in the fourth quarter worth about $352,000. Ativo Capital Management LLC bought a new stake in shares of HSBC during the fourth quarter valued at approximately $1,181,000. Dimensional Fund Advisors LP grew its stake in HSBC by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,621,349 shares of the financial services provider’s stock worth $471,129,000 after purchasing an additional 376,641 shares during the period. Sequoia Financial Advisors LLC raised its holdings in HSBC by 11.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 26,256 shares of the financial services provider’s stock worth $1,064,000 after purchasing an additional 2,724 shares in the last quarter. Finally, Morgan Stanley lifted its position in HSBC by 0.9% during the third quarter. Morgan Stanley now owns 8,374,688 shares of the financial services provider’s stock valued at $330,465,000 after buying an additional 73,129 shares during the period. 1.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

HSBC Trading Up 1.3 %

NYSE:HSBC opened at $44.07 on Tuesday. HSBC Holdings plc has a 52 week low of $35.30 and a 52 week high of $45.46. The stock has a market cap of $165.28 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 1.06 and a beta of 0.58. The company’s 50 day moving average price is $43.57 and its 200-day moving average price is $40.85. 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 (NYSE:HSBC) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.70 earnings per share for the quarter. HSBC had a return on equity of 10.80% and a net margin of 16.13%. The firm had revenue of $20.75 billion during the quarter. On average, equities research analysts forecast that HSBC Holdings plc will post 6.35 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 10th were paid a $0.50 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.54%. HSBC’s dividend payout ratio is presently 34.14%.

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.