Meritage Portfolio Management Purchases 16,015 Shares of HSBC Holdings plc (NYSE:HSBC)

Meritage Portfolio Management boosted its position in shares of HSBC Holdings plc (NYSE:HSBC) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,629 shares of the financial services provider’s stock after acquiring an additional 16,015 shares during the period. Meritage Portfolio Management’s holdings in HSBC were worth $10,039,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC bought a new stake in HSBC during the 4th quarter valued at approximately $352,000. Ativo Capital Management LLC acquired a new position in HSBC in the 4th quarter valued at approximately $1,181,000. Sequoia Financial Advisors LLC grew its holdings in shares of HSBC by 11.6% during the 4th 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. Morgan Stanley raised its stake in shares of HSBC by 0.9% in the third quarter. Morgan Stanley now owns 8,374,688 shares of the financial services provider’s stock valued at $330,465,000 after purchasing an additional 73,129 shares in the last quarter. Finally, Sanders Capital LLC boosted its stake in HSBC by 29.0% during the third quarter. Sanders Capital LLC now owns 95,080 shares of the financial services provider’s stock worth $3,752,000 after buying an additional 21,380 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors.

HSBC Price Performance

Shares of NYSE HSBC traded up $0.09 during trading on Friday, reaching $41.90. The company had a trading volume of 969,340 shares, compared to its average volume of 2,226,308. HSBC Holdings plc has a 52 week low of $35.30 and a 52 week high of $42.47. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50 day moving average price is $39.48 and its 200-day moving average price is $39.12. The stock has a market cap of $158.45 billion, a PE ratio of 7.35, a PEG ratio of 0.98 and a beta of 0.63.

HSBC (NYSE:HSBC) last released its earnings results on Wednesday, February 21st. The financial services provider reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). The firm had revenue of $13.02 billion for the quarter. HSBC had a return on equity of 12.89% and a net margin of 19.02%. Analysts expect that HSBC Holdings plc will post 7.24 earnings per share for the current year.

HSBC Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Friday, March 8th were paid a $1.55 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from HSBC’s previous quarterly dividend of $0.50. This represents a $6.20 dividend on an annualized basis and a yield of 14.80%. HSBC’s dividend payout ratio (DPR) is presently 108.42%.

Wall Street Analyst Weigh In

HSBC has been the topic of several analyst reports. BNP Paribas lowered HSBC from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 16th. Barclays reiterated an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, HSBC currently has an average rating of “Hold” and a consensus target price of $811.00.

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.