Foresight Capital Management Advisors Inc. Boosts Stock Position in HSBC Holdings plc (NYSE:HSBC)

Foresight Capital Management Advisors Inc. boosted its stake in HSBC Holdings plc (NYSE:HSBC) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,316 shares of the financial services provider’s stock after buying an additional 1,133 shares during the period. Foresight Capital Management Advisors Inc.’s holdings in HSBC were worth $1,280,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Richardson Financial Services Inc. bought a new stake in shares of HSBC during the fourth quarter valued at approximately $27,000. Rise Advisors LLC purchased a new position in shares of HSBC during the 1st quarter worth $34,000. Family Firm Inc. purchased a new position in shares of HSBC during the 2nd quarter worth $36,000. RFP Financial Group LLC lifted its stake in shares of HSBC by 126.1% during 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 in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of HSBC during the 2nd quarter valued at $47,000. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Price Performance

HSBC stock traded down $0.19 during mid-day trading on Monday, hitting $45.68. The company had a trading volume of 998,510 shares, compared to its average volume of 1,774,120. The company has a market capitalization of $171.32 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 0.98 and a beta of 0.56. HSBC Holdings plc has a 12-month low of $35.30 and a 12-month high of $46.07. The company has a quick ratio of 0.96, a current ratio of 0.89 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $43.51 and a 200 day moving average price of $43.09.

HSBC (NYSE:HSBC) last announced its quarterly 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 for the quarter. On average, research analysts anticipate that HSBC Holdings plc will post 5.74 earnings per share for the current year.

HSBC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.38%. HSBC’s dividend payout ratio (DPR) is presently 34.14%.

Analysts Set New Price Targets

Separately, Dbs Bank upgraded shares of HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, 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.