Sowell Financial Services LLC Reduces Position in HSBC Holdings plc $HSBC

Sowell Financial Services LLC reduced its holdings in HSBC Holdings plc (NYSE:HSBC) by 28.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,710 shares of the financial services provider’s stock after selling 10,521 shares during the period. Sowell Financial Services LLC’s holdings in HSBC were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC lifted its stake in HSBC by 4.4% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 4,022 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 168 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of HSBC by 2.7% in the second quarter. Moors & Cabot Inc. now owns 7,152 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 189 shares during the last quarter. Lido Advisors LLC boosted its stake in HSBC by 3.1% during the second quarter. Lido Advisors LLC now owns 6,267 shares of the financial services provider’s stock worth $381,000 after buying an additional 189 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in HSBC by 4.4% during the second quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider’s stock worth $302,000 after buying an additional 210 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in HSBC by 29.5% in the 3rd quarter. Private Trust Co. NA now owns 988 shares of the financial services provider’s stock valued at $70,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America raised shares of HSBC from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 10th. Erste Group Bank raised shares of HSBC from a “hold” rating to a “buy” rating in a research note on Thursday, November 20th. Citigroup reiterated a “buy” rating on shares of HSBC in a report on Tuesday, October 21st. Keefe, Bruyette & Woods upgraded HSBC from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, December 17th. Finally, Zacks Research upgraded HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

HSBC Stock Down 1.4%

HSBC stock opened at $78.81 on Tuesday. The company has a market capitalization of $270.73 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. HSBC Holdings plc has a fifty-two week low of $45.66 and a fifty-two week high of $79.97. The firm has a 50 day moving average price of $72.20 and a 200 day moving average price of $67.41.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.80 EPS for the quarter, topping the consensus estimate of $1.65 by $0.15. The business had revenue of $17.79 billion during the quarter, compared to analyst estimates of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. Research analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Friday, November 7th were given a dividend of $0.50 per share. This is a boost from HSBC’s previous quarterly dividend of $0.50. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, November 7th. HSBC’s dividend payout ratio is currently 41.68%.

About HSBC

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.