HSBC Holdings plc $HSBC Position Lifted by Ritholtz Wealth Management

Ritholtz Wealth Management grew its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,611 shares of the financial services provider’s stock after acquiring an additional 5,748 shares during the period. Ritholtz Wealth Management’s holdings in HSBC were worth $19,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in HSBC by 5.5% in the 1st quarter. Bank of America Corp DE now owns 2,385,883 shares of the financial services provider’s stock worth $196,811,000 after purchasing an additional 124,201 shares during the period. Royal Bank of Canada grew its holdings in HSBC by 17.3% during the first quarter. Royal Bank of Canada now owns 1,304,192 shares of the financial services provider’s stock valued at $107,582,000 after purchasing an additional 192,133 shares during the period. Quantinno Capital Management LP increased its position in HSBC by 20.9% in the first quarter. Quantinno Capital Management LP now owns 525,775 shares of the financial services provider’s stock worth $43,371,000 after buying an additional 90,711 shares in the last quarter. Renaissance Technologies LLC increased its position in HSBC by 391.6% in the first quarter. Renaissance Technologies LLC now owns 524,122 shares of the financial services provider’s stock worth $43,235,000 after buying an additional 417,500 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of HSBC by 1.4% in the first quarter. First Trust Advisors LP now owns 500,505 shares of the financial services provider’s stock worth $41,287,000 after buying an additional 6,891 shares during the period. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HSBC. Wall Street Zen raised HSBC from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Deutsche Bank reissued a “neutral” rating on shares of HSBC in a report on Wednesday, August 5th. The Goldman Sachs Group restated a “buy” rating on shares of HSBC in a research note on Wednesday, August 5th. Shore Capital Group downgraded shares of HSBC to a “sell” rating in a report on Wednesday, August 5th. Finally, BNP Paribas Exane lowered shares of HSBC from a “hold” rating to a “strong sell” rating and dropped their price target for the stock from $100.50 to $97.00 in a research report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $97.00.

Trending Headlines about HSBC

Here are a few of the latest headlines about HSBC:

• Neutral Sentiment: HSBC raised its FY27 India loan-growth forecast to 18% amid faster credit growth. This signals a potentially favorable lending market, but the report does not identify this as HSBC’s own loan-growth guidance. India’s credit growth accelerates; HSBC raises FY27 loan-growth forecast
• Negative Sentiment: A report says an HSBC Sharia-compliant fund will exclude arms companies following investments in firms linked to Israel’s military. The issue could bring reputational scrutiny, although the reported policy change may address some concerns. HSBC fund to exclude arms companies
• Negative Sentiment: HSBC disclosed a share sale by Group Chief Information Officer Stuart Riley. Insider sales can attract investor attention, but the provided report excerpt does not state the sale’s size or rationale. HSBC Discloses Share Sale by Group Chief Information Officer

HSBC Stock Performance

NYSE:HSBC opened at $90.21 on Thursday. The stock has a 50-day moving average price of $95.98 and a 200 day moving average price of $93.54. The stock has a market capitalization of $309.28 billion, a P/E ratio of 11.72, a P/E/G ratio of 0.99 and a beta of 0.56. HSBC Holdings plc has a 12-month low of $67.56 and a 12-month high of $107.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.53.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $2.10 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.10). HSBC had a return on equity of 14.33% and a net margin of 19.59%. The business had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $18.98 billion. Equities research analysts forecast that HSBC Holdings plc will post 8.41 EPS for the current fiscal year.

HSBC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, November 6th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, November 6th. HSBC’s payout ratio is 25.71%.

HSBC Company Profile

HSBC Holdings plc is a global banking and financial services company serving individuals, businesses, institutions and governments. Its services include personal and commercial banking, wealth management, private banking, and corporate and investment banking. The company provides products such as deposit accounts, lending, payments, trade finance, foreign exchange and investment services. Its international network supports clients with cross-border banking and financial needs. HSBC traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to finance trade in Asia.