Legacy Financial Advisors Inc. Has $713,000 Stake in HSBC Holdings plc (NYSE:HSBC)

Legacy Financial Advisors Inc. raised its holdings in HSBC Holdings plc (NYSE:HSBC) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,388 shares of the financial services provider’s stock after buying an additional 818 shares during the period. Legacy Financial Advisors Inc.’s holdings in HSBC were worth $713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Richardson Financial Services Inc. bought a new position in shares of HSBC in the 4th quarter valued at about $27,000. Rise Advisors LLC bought a new position in HSBC in the first quarter valued at approximately $34,000. Family Firm Inc. bought a new stake in shares of HSBC during the 2nd quarter worth approximately $36,000. RFP Financial Group LLC boosted its holdings in shares of HSBC by 126.1% in the 1st quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after buying an additional 575 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of HSBC in the second quarter valued at $47,000. 1.48% of the stock is owned by institutional investors.

HSBC Stock Down 1.2 %

HSBC opened at $44.17 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $43.10 and its 200 day simple moving average is $42.53. HSBC Holdings plc has a 1-year low of $35.30 and a 1-year high of $45.53. The stock has a market cap of $165.68 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 0.94 and a beta of 0.56.

HSBC (NYSE:HSBC) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 EPS for the quarter. HSBC had a net margin of 15.61% and a return on equity of 10.60%. The business had revenue of $16.54 billion during the quarter. As a group, research analysts expect that HSBC Holdings plc will post 5.74 earnings per share for the current year.

HSBC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, August 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.53%. HSBC’s dividend payout ratio (DPR) is currently 34.14%.

Analysts Set New Price Targets

Separately, Dbs Bank raised shares of HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

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.