Sunpointe LLC Invests $211,000 in HSBC Holdings plc (NYSE:HSBC)

Sunpointe LLC purchased a new position in shares of HSBC Holdings plc (NYSE:HSBC) in the fourth quarter, Holdings Channel.com reports. The fund purchased 4,261 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mediolanum International Funds Ltd acquired a new stake in shares of HSBC during the 3rd quarter worth approximately $139,895,000. FMR LLC boosted its position in shares of HSBC by 44.3% during the 3rd quarter. FMR LLC now owns 2,442,205 shares of the financial services provider’s stock worth $110,363,000 after purchasing an additional 749,759 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of HSBC by 2.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 514,642 shares of the financial services provider’s stock worth $25,454,000 after purchasing an additional 14,095 shares during the period. Meritage Portfolio Management boosted its position in shares of HSBC by 5.6% during the 4th quarter. Meritage Portfolio Management now owns 318,825 shares of the financial services provider’s stock worth $15,769,000 after purchasing an additional 17,012 shares during the period. Finally, QRG Capital Management Inc. boosted its position in shares of HSBC by 2.5% during the 3rd quarter. QRG Capital Management Inc. now owns 310,442 shares of the financial services provider’s stock worth $14,029,000 after purchasing an additional 7,448 shares during the period. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Performance

NYSE:HSBC opened at $55.97 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $200.45 billion, a P/E ratio of 9.25, a PEG ratio of 1.51 and a beta of 0.54. The company has a 50 day moving average price of $51.11 and a 200 day moving average price of $46.98. HSBC Holdings plc has a fifty-two week low of $36.93 and a fifty-two week high of $57.08.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.41 by $0.04. HSBC had a net margin of 15.70% and a return on equity of 10.71%. The company had revenue of $11.56 billion during the quarter, compared to analysts’ expectations of $13.79 billion. Equities research analysts forecast that HSBC Holdings plc will post 6.67 EPS for the current year.

HSBC Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 7th will be given a $1.80 dividend. The ex-dividend date of this dividend is Friday, March 7th. HSBC’s dividend payout ratio is presently 31.94%.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft cut shares of HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd.

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.